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Published On: Fri, Sep 29th, 2017

2017 budget funding: Senate backpedals on Adeosun’s summon

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By Christiana Ekpa.

The Senate has reversed its decision to invite the Ministers of Finance Kemi Adeosun and that of Budget and National planning Udo Udoma to appear before it in plenary session to brief lawmakers on the observed trend of inadequate releases in the 2017 budget.
Both ministers are now to appear before the Senate joint committees on finance and appropriation on Tuesday.
The Senate decision followed a motion tabled before it by the Senate leader Ahemd Lawan who urged the Senate to reverse it initial position and grant the ministers leave to meet with the joint committees, stressing that they are in a better position to get to the crux of the matter.
The Senate had on Tuesday 26th summoned the minister of finance, and that of budget to appear before it in plenary session to brief the senate on the cause of inadequate releases in the 2017 budget and the steps being taken to expedite release of funds for the capital components of the 2017 appropriation act
Concerns were raised on Tuesday’s plenary over inadequate releases in the 2017 Budget and the need to expidite releases of funds in order to stimulate the economy, Senator Ggenga Ashafa, lawmaker representing Lagos East had moved the motion hinting the Senate that since the 2017 Budget was assented to by the president, about three hundred and ten Billion naira has been released by the federal government to ministries, department and agencies as funding for capital projects which according to him is far too low to stimulate the economy to address present economic challenges.
The 2017 budget was passed by the national Assembly on the 11th of may 2017

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