As Electoral Act Amendment, PIB top agenda today

By Emman Ovuakporie

ABUJA—The House of Representatives has advised President Goodluck Jonathan not to spend recklessly before the passage of 2015 Appropriation Bill.

Chairman of the House Committee on Rules and Business, Albert Sam-Tsokwa, Peoples Democratic Party, PDP, Taraba, who gave the advice in a chat with House correspondents yesterday, said any reckless expenditure would lead to a deficit that the country had never witnessed before.

He, however, explained that though the constitution had empowered the President to spend before budgets were approved, the country would be plunged into financial crisis, if the President failed to exercise restraint.

Section 82 of 1999 constitution, as amended states: “If the Appropriation Bill in respect of any financial year has not been passed into law by the beginning of the financial year, the President may authorise the withdrawal of monies in the Consolidated Revenue Fund of the Federation for the purpose of meeting expenditure necessary to carry on the services of the government of the Federation for a period not exceeding .six months or until the coming into operation of the Appropriation  Act, whichever is the earlier:

“Provided that the withdrawal in respect of any such period shall not exceed the amount authorised to be withdrawn from the Consolidated Revenue Fund of the Federation under the provisions of the Appropriation Act passed by the National Assembly for the corresponding period in the immediately preceding financial year, being an amount proportionate to the total amount so authorised for immediately preceding financial year.”

The lawmaker said: “I am aware that the constitution allows Mr. President to spend an amount of money equivalent to the one that was spent in the preceding year, pending the approval of the budget.

“But the snag we have is that last year’s budget was based on crude oil price of over $100 per barrel but as we speak, the price is barely 50 dollars.

“So, if Mr. President is to spend the equivalent of what was spent in a particular period last year this year, we will run into trouble.

“So, I will advise that Mr. President thread cautiously and I call on legislators to expedite action on the budget and put it behind us before going for presidential and governorship elections”

Sam-Tsokwa also accused the Executive of violating the Fiscal Responsibility Act by failing to submit the Medium Term Expenditure Framework, MTEF, four months before submitting the budget proposal.