Budget process has undergone revolutionary reforms, hence, the executive, will next week, sign the 2017 Appropriations Bill into law.
Hon. Yakubu Dogara made this known while delivering an address to mark the 2nd anniversary of the 8th House of Representatives.
He also expressed delight that the House has kept to its promise to carry out a Budget reform that will ensure that the 2017 Appropriations Bill is processed in a transparent manner.
The Speaker said, “On issue of Budget, we kept our promise to Nigerians at the beginning of the legislative session to ensure transparent deliberation and passage of the 2017 Appropriations Bill which will be signed into law early next week.
We have also carried out significant Budget Reforms. For the first time in the history of Nigeria, a Public Hearing was conducted in the National Assembly to get the input of Nigerians in the budgetary process. Further reforms introduced include the details of the Appropriation Act being available to all members before passage in plenary; the requirement that members of each Committee should sign the Report of their Committees before being sent to the Committee on Appropriations.
All these novel measures are unprecedented in the history of our Parliament. These proactive measures ensured that the House’s debate and consideration of the 2017 budget proposal presented by the President was evidence based and geared towards galvanizing the economy for greater growth.”
In addition to these, he continued, “the House has considered and passed several Bills designed to stimulate economic growth and promote competition. These include: The Bill for an Act establishing Federal Competition and Consumer Protection Commission, etc.
This legislation has the potential to engender innovation and efficient allocation of resources, eliminate barriers to entry and restrictive trade practices in our market. It will have a hugely positive impact on the quality of goods and services and their prices in the interest of the Nigerian consumer. Several Bills and Resolutions aimed at improving ease of doing business in Nigeria have been passed and more are in the works.”