Nigerian President Muhammadu Buhari, has requested the Senate to consider and approve the 2016 Appropriation of thirty eight (38) revenue generating Agencies of the government. The Agencies include three Media Organisations under the Ministry of Information and Culture.
The budget proposal was sent as part of the President’s communication to the upper legislative Chamber, which was read on the floor during Tuesday’s plenary session. Those under the Information and Culture Ministry are, the News Agency of Nigeria (NAN), Federal Radio Corporation of Nigeria (FRCN), and the Nigeria Television Authority (NTA).
For the first time in recent years, the budget proposals of the Nigerian National Petroleum Corporation (NNPC), and the Central Bank of Nigeria (CBN) were presented for consideration and passage by the legislature.
The letter, which was read by the Senate President, Dr Bukola Saraki, indicated that the budget proposals were sent to the Senate for consideration and passage in line with the provisions of the Fiscal Responsibility Act, 2007.
A list of the Agencies shows that, the Bureau of Public Enterprises, National Agencies for Science and Engineering Infrastructure, Nigerian Airspace Management Agency, Nigerian Shippers Council, National Maritime Authority, Raw Materials Research and Development Council, was part of the request.
Others are National Sugar Development Council, Nigerian Postal Service, Nigerian Ports Authority, Federal Airport Authority of Nigeria, Securities and Exchange Commission, Nigerian Tourism Development Corporation and National Communications Commission.
Also, National Agency for Food and Drugs Administration and Control, Nigerian Customs Service, National Broadcasting Commission, National Insurance Commission, Nigerian Copyrights Commission, Nigerian Deposit Insurance Corporation and Federal Inland Revenue Service were included.
Equally, the budget of the following agencies was sent and they are Nigerian Immigration Service, Nigerian Electricity Regulatory Commission, Federal Housing Authority, National Automotive Design and Development Council.
In the same vein the budget of Nigerian Nuclear Regulatory Authority, National Business and Technical Examination Board, Federal Mortgage Board, National Environmental Standards and Regulations Enforcement Agency, Industrial Training Fund.
Accordingly, the budget proposals for the Corporate Affairs Commission, Standards Organisation of Nigeria as well as Oil and Gas Free Zone Authority made the list.
Part of the letter read, “Please note that in line with the provisions of the Act, budget of the agencies and corporations which have been privatised or otherwise cease to exist are not included therein. May I please pray the senate to expeditiously consider and approve the budget of these agencies and corporations to enable them effectively execute their mandate.”
Finance Minister & CBN Governor
In another development, the Minister of Finance, Mrs. Kemi Adeosun and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, appeared before the Senate on Tuesday to give update on the monetary policy of the government.
The session which held under close door, was in response to the Senate’s request that the managers of the economy explain recent developments concerning the currency (naira) and other issues affecting the ongoing efforts to revive the economy.