Minister of Finance, Kemi Adeosun has assured that the Ministry will soon begin fund releases for the implementation of the 2018 budget
The Minister while speaking with BusinessDay at the Presidential Villa, Thursday, did not however give reasons for the delays in releasing funds for the implementation of the 2018 budget, about 50 days after the budget was signed into law, by President Muhammadu Buhari
The Minister could also not say how soon the release of funds will begin, but simply said “ We will begin the release of funds soon” , in response to BusinessDay enquiry on when the Ministry will begin the disbursement of funds for the budget implementation.
Since the signing of the Appropriation Bill into law, the 2018 budget had faced several challenges , especially with observations by the President that alterations done by the National Assembly will make it difficult to implement
President Buhari had on the 20th of June signed the 9.12 trillion 2018 budget passed by the National Assembly, in May.
It would be recalled that while signing the N9.120 trillion 2018 budget into law on June 20, 2018, lamented that National Assembly members made reductions amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion.
He also predicted that the 2018 Appropriation Act, would be difficult, if not impossible, to implement as a result of the alterations members of the National Assembly effected on the document.
The budget implementation had since taken the back stage as politicians battle over their reelection.
The battle for survival has also led to the Senate adjourning until 25th of September in a bid to foil alleged plans by the Executive arm of government to change its leadership, thus further heightening political tension.
The delay in release of funds for capital component is expected to further put some strategic projects in jeopardy especially following the delayed passage of the budget, according to Auwal Rafsanjani, Executive Director of Civil Society Legislative Advocacy Centre (CISLAC).
Auwal Rafsanjani, in an exclusive chat with BusinessDay on the issue, appealed to the political class to take the interest of the ordinary Nigerian as a top priority.
He condemned the recent siege on the National Assembly, describing it as “undemocratic and uncalled for”
“There should be a better way of resolving political differences rather than resorting to use of naked force” he said.
Tony Ailemen, Abuja
