To address budget presentation delays and reduce the number of supplementary budgets by the executive arm of government, the House of Representatives has introduced two new bills.
The bills, which are under review by the House Ad-hoc Committee on Constitution Review, chaired by Deputy Speaker Benjamin Okezie Kalu, will among other things limit the number of supplementary budgets passed annually to bridge funding gaps.
Sponsored by Honourables Mansur Manu Soro and Adamu Hashimu Ranga, one of the bills seeks to restrict supplementary budgets to a single instance per financial year.
Titled: “A Bill for an Act to Alter the Constitution of the Federal Republic of Nigeria, 1999 to Provide for the Consideration of Not More Than One Supplementary National Budget in Addressing Funding Gaps Arising from the Existing Appropriations Act,” the proposal aims to amend Section 81 of the Constitution by introducing a new subsection, 4(C), which states:
“Provided that there shall not be more than one supplementary budget in addressing the funding gaps identified in the existing Appropriation Act.”
The explanatory memorandum highlights the bill’s goals of enhancing transparency in public sector budgeting, reducing the economic impact of multiple supplementary budgets, and streamlining the budgetary process.
Sponsored by Reps Mansur Manu Soro and Emeka Martins Chinedu, the second bill proposes amendments to ensure timely submission of budget estimates.
Titled: “A Bill for an Act to Amend the Constitution of the Federal Republic of Nigeria, 1999 to Specify the Period for the Laying of Annual Budget Estimates Before the National and State Houses of Assemblies,” the bill aims to standardise the January–December budget cycle and address issues arising from late budget submissions.
The bill seeks amendments to sections 81(1) and 121(1) of the constitution, requiring the president and governors to present budget estimates at least 60 days before the end of the preceding financial year.
The proposed amendments read: Section 81(1): “The president shall cause to be prepared and laid before the joint session of the National Assembly, at least 60 days before the end of the preceding financial year, estimates of revenues and expenditure of the Federation for the succeeding financial year.”
According to the sponsors, the proposed amendments will improve fiscal discipline, ensure timely passage of budgets, and align national and state budget cycles with international best practices.
Meanwhile, the National Assembly had acceded to President Tinubu’s request to extend the lifespans of the capital components of the 2023 main and supplementary budgets from 30th June to 31st December.