Barring last-minute changes, the senate and house of representatives’ appropriations committees are expected to lay the report of the 2023 appropriations on the floor of both chambers on Wednesday.
The report is expected to be gazetted for debate in the Order Paper of both Chambers, after which it will be subjected to the Committee of Supply and subsequently passed through Third Reading in line with legislative practice and procedure.
As at the time of filing this report, the joint Senate and House Committees on Appropriations and Finance are still working on the final copy of the report that will be presented on resumption for this week’s legislative activities.
Although there were insinuations that the final amount to be presented may not be increased above N300 billion threshold with a view to capture some of the resolution passed on provision of infrastructure including safety net for flood victims, fixing of deplorable roads, power, education, among others across the 109 Senatorial Districts and 360 Federal Constituencies.
Recall that President Muhammadu Buhari had during the presentation of the 2023 budget proposal before the joint session of the National Assembly, specifically expressed grave concern over the budget of Government-Owned Enterprises (GOEs) and cautioned against undue hike in the budget.
He said: “Distinguished Senators, Honourable Members, you may recall that we earlier integrated the budget of Government-Owned Enterprises into the FGN’s 2019 budget submission. This has helped to enhance the comprehensiveness and transparency of the FGN budget.
“It has however come to my attention that Government-Owned Enterprises liaise directly with relevant NASS committees to have their budget passed and issued to them directly.
“I would like to implore the leadership of the National Assembly to ensure that the budget I lay here today, which includes those of the GOEs, be returned to the Presidency when passed.
“The current practice where some committees of the National Assembly purport to pass budgets for GOEs, which are at variance with the budgets sanctioned by me, and communicate such directly to the MDAs is against the rules and needs to stop,” Mr President urged the lawmakers.
President Buhari who hinted on Federal Government’s plan to spend N20.51 trillion in 2023, including N2.42 trillion spending by Government-Owned Enterprises (GEOs), observed that the 2023 expenditure comprises of: Statutory Transfers of N744.11 billion; Non-debt Recurrent Costs of N8.27 trillion; Personnel Costs of N4.99 trillion; Pensions, Gratuities and Retirees’ Benefits of N854.8 billion; Overheads of N1.11 trillion; Capital Expenditure of N5.35 trillion, including the capital component of Statutory Transfers; Debt Service of N6.31 trillion; and Sinking Fund of N247.73 billion to retire certain maturing bonds.
According to him, the total fiscal operations of the Federal Government to result in a deficit of N10.78 trillion, representing 4.78 percent of estimated GDP, above the 3 percent threshold set by the Fiscal Responsibility Act 2007.
On the fiscal deficit financing, President Buhari explained that the deficit mainly by new borrowings totalling N8.80 trillion, N206.18 billion from Privatization Proceeds and N1.77 trillion drawdowns on bilateral/multilateral loans secured for specific development projects/programmes.
According to the time table released by the House Committee on Appropriations chaired by Hon. Muktar Betara, various Standing Committees otherwise referred to as Appropriation Sub-Committees the 2023 budget defence are expected to commence engagement with MDAs on Tuesday, 25th October to Thursday, 3rd November, 2022.
Submission and defence of budget reports by various Sub-Committees is scheduled for Friday, 4th November to Friday, 11th November, 2022.
Collation/Harmonisation of reports by the Appropriation Committee is scheduled for Friday, 11th to Friday, 25th November, 2022.
Meanwhile the dates for the printing/distribution of the draft report of the 2023 budget as well as laying/presentation of the 2023 Appropriation bill were not specified.
