The Senate and the House of Representatives yesterday passed a harmonized version of the 2013 budget, with an increase on the estimates to N4.987 trillion from the N4.924 trillion proposed by the executive. This is the first time since 1999 that the National Assembly will be passing the Federal budget before the beginning of the fiscal year. Based on the figures adopted, statutory transfers were hiked from the N380.02 billion to N387.97 billion. Total recurrent expenditure was reduced from the N2.412 trillion proposed by President Jonathan to N2.386 trillion; while capital expenditure was increased to N1.621 trillion as against the N1.540 trillion proposed.
The N591.764 billion proposed for debts servicing was adopted without change.
Although no explanation was given for the increases in the budget figures, chairman of the Senate Committee on Appropriation, Ahmad Mohammed Maccido, said "there is a component of the budget stated as SURE-P with fund to the tune of N180 billion for the year 2013 which will be augmented by a total of N273.5bn SURE-P fund."
Maccido said his committee adopted a benchmark price of $79 per barrel of crude oil as well as the executive proposal of crude oil production of 2.53 million barrels per day and an exchange rate of N160 to $1.
Deputy Senate President Ike Ekweremadu, who presided over the Senate plenary session, urged the executive to implement the 2013 budget, describing the 2012 budget performance as grossly unsatisfactory.
Ekweremadu said the National Assembly passed the budget before the end of 2012 to enhance early commencement of its implementation, adding that they would not condone poor budget performance any longer.
Earlier, the session was almost stalled by the observation by the chairman of the Senate Committee on Rules and Business, Ita Enang, that the Fiscal Responsibility Act 2007 does not permit the Senate to pass the budget of the Securities and Exchange Commission (SEC).
But senators voted a resounding nay to Enang's observation when Ekweremadu put the question on it.
In the House of Representatives, the report of the Appropriations committee chaired by Rep. John Owan Enoh (PDP, Cross Rivers) was adopted.
The capital expenditure aspect of the budget showed that works ministry has the highest allocation of N168.17 billion followed by water resources which got N84 billion while the power sector was given N73.14 billion.
Under recurrent expenditure, education sector got the highest vote of N360.82 billion followed by N295.01 billion and health sector with N219.73 billion.
Both Senate and House inserted a clause into the Appropriation Act to make it compulsory for all unspent funds in the 2012 budget to be rolled over to April 2013 to enable full implementation.
On why the National Assembly passed the budget despite its threats, spokesman for the House, Zakari Mohammed, said this was done because Nigeria deserved to be kept moving.
Special Adviser to President Goodluck Jonathan on National Assembly Matters, Senator Joy Emodi, said the early passage of the 2013 budget has put paid to speculations that there is a rift between the executive and the legislature.
Addressing journalists, Emodi said both arms of government had jointly proved that they are partners in governance and are taking steps to place the nation on a path to economic growth and prosperity.
Emodi, who said the early passage of the budget would enhance better budget performance in 2013, noted that Jonathan had extracted commitment from the ministries, departments and agencies through the performance contract with the ministers.
Daily Trust