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Reps assure compliance with Finance Act, speedy passage of 2024 budget
The House of Representatives, on Tuesday, assured of its resolve to ensure speedy passage of the 2024 Appropriation bill when presented to the Parliament.
Chairman, House Committee on Appropriations, Abubakar Bichi, who gave the assurance in Abuja, during the inaugural meeting of the Standing Committee, vowed to exercise its oversight jurisdiction over relevant government agencies in its monitoring of the budget implementation.
Bichi reiterated the readiness to sustain the Financial Year Act through budget passage on or before 31st December to ensure budget implementation from beginning of the year, through to the end.
He vowed that the committee will monitor implementation by all the Ministries, Departments and Agencies (MDAs), insisting the committee’s work is not only tied to budget appropriation.
The lawmaker noted that the Appropriations Committee stands as one of the most prominent Committees that champions the course of lawmaking through appropriations of funds, revealing that the panel will facilitate strategic meetings with the Chairmen of Finance, National Planning and Aids, Loans and Debt Management.
He said the move was to gather data that will facilitate effective function of the committee of ensuring inclusive budget preparation, appreciable implementation and effective oversight.
His words: “it is significant to note that the Appropriations Committee stands as one of the most prominent Committees that champions the course of lawmaking through appropriations of funds to run the affairs of government by Ministries, Departments and Agencies (MDAs) of the Federal Government. This makes the Committee enjoy a wider jurisdiction in comparison with other Standing Committees.
“More significantly, the Committee is empowered by Order 20, Rule 15 of the House of Representatives Standing Orders, 10th Edition, 2020 as Amended to coordinate, monitor, and supervise the implementation of all Appropriation Acts after passage by the National Assembly.
“This power will be effectively utilized to exercise oversight jurisdiction over relevant agencies such as the Federal Ministry of Budget and Economic Planning, Federal Ministry of Finance, Office of the Accountant General of the Federation and National Economic Intelligence Agency among others to monitor the budget implementation.
“In furtherance of this significant duty, the Committee’s leadership will initiate strategic meetings with Chairmen of Finance, National Planning and Aids, Loans and Debt Management to gather data that will facilitate effective function of this Committee of ensuring inclusive budget preparation, appreciable implementation and effective oversight.
“In addition, the Committee will ensure the sustenance of the long established and cherished precedent of ensuring compliance with the Financial Year Act through budget passage on or before 31 December of each financial year. This development will no doubt make the budget implementation from January to December operational and achievable.”
