July 20, 2016

Senate receives budget proposals for NNPC, CBN, 36 others

By Henry Umoru & Joseph Erunke

ABUJA—THE Senate yesterday received the 2016 budget proposal for the Nigerian National Petroleum Corporation, NNPC, Central Bank of Nigeria, CBN, and 36 other agencies from President Muhammadu Buhari for consideration and subsequent passage.

Announcing the budget yesterday at plenary, Senate President, Bukola Saraki, who presided over yesterday’s session, told the senators that President Buhari requested that the budget for those agencies be given accelerated approval to allow them expend funds for various projects, in line with its statutory laws and mandate.

The agencies include Bureau of Public Enterprises, BPE; National Agencies for Science and Engineering Infrastructure, NASEI; Nigerian Airspace Management Agency, NAMA; Nigerian Shippers Council, NSC;  Raw Materials Research and Development Council, RMRDC, National Sugar Development Council, NSDC, Nigerian Postal Service, NPS, Nigerian Ports Authority, NPA, Federal Airport Authority of Nigeria, FAAN, Securities and Exchange Commission, SEC, Nigerian Tourism Development Corporation, NTDC, National Communications Commission, NCC, National Agency for Food and Drugs Administration and Control, NAFDAC, Nigerian Customs Service, NCS, National Broadcasting Commission, NBC, Federal Inland Revenue Service, FIRS, among others.

Buhari’s letter read:  “Further to the provisions of the Fiscal Responsibility Act, 2007 wish to provides that the budget of agencies listed in the the Act be collated and forwarded to the National Assembly for consideration.

“May I please pray the Senate to expeditiously consider and approve the budget of this agencies and corporations to enable them effectively execute their mandate.”