Reps move to check pre budget expenditure

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    Reps move to check pre budget expenditure
    By AUSTIN OWOICHO, AbujaHon-Yakubu-Dogara
     
    Hon Yakubu Dogara, Speaker, House of Representatives
    The Speaker of the House of Representatives, Honourable Yakubu Dogara has vowed that Section 82 of the Nigerian Constitution would be amended to speed up the process of Budget by reducing the time of pre budget expenditure.
    He stated this in a welcome address from the recess, delivered on Tuesday at the floor of the House.
    “Furthermore, Section 82 of the Constitution may also need to be amended to reduce the period allowed for pre budget expenditure authorization by Mr. President from six months to three months, as this distorts the budget process. Time has come also to enforce the reporting requirements imposed in the yearly appropriation Bills on the Minister of Finance and various MDAs,” he said..
    Dogara informed that recent monetary and fiscal policies are aimed at preventing money laundering and protecting our economy.
    “Honorable Colleagues, recent monetary and fiscal policies aimed at preventing money laundering and protecting our currency, though no doubt well intentioned, have resulted in avoidable hiccups in our international financial transactions with multifaceted counterproductive implications for both commerce, foreign investor promotion and diaspora Nigerians including students. This is a matter of urgent national importance requiring all hands on deck.
    “Accordingly, the House Committees on Banking and Currency; Finance; Diaspora and both Basic and Tertiary Education are hereby directed to quickly put their heads together and collaborate with the relevant executive agencies to expeditiously resolve the prevailing bottlenecks in our Foreign Exchange regime,” he said.

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