The Senate Deputy Minority Leader and Vice Chairman Senate Committee On Finance, Senator Lere Oyewumi has expressed optimism that the N27.5 trillion budget estimate submitted by President Tinubu will augur well for the country due to the paradigm shift in the budget. He hinted it's pertinent to fully implement the MTEF/FSP recommendations, which includes a top-down estimate of aggregate resources available for public spending; bottom-up coasted sector programs; reconciliation of needs with resource constraints for sectoral resource allocation; and ensuring that budget execution reflects agreed plans.
Senator Oyewunmi Olalere also urged his distinguished colleagues to ensure that the various standing committees of the Senate that would be involved in the budget defense exercise carry out their respective duties as expected. He equally suggested a mid term assessment and timely monitoring of budget as the mid term assessment of budget implementation and tracking will promote transparent and accountable governance.
“A lot needs to be done by the National Assembly to ensure that that various committees should take responsibility for the monitoring. A lot of projects from last year have been abandoned; we appeal that the 2024 budget should capture it and all other necessary aspects should be captured. For instance, in my senatorial district, a major road, Ibadan/Ife/Ilesha Express road has deteriorated and abandoned despite been awarded severally.
Senator Lere Oyewumi equally appealed to the Senate to include the abandoned Gbongan/Iwo/Oyo Road which has been awarded since 2011 in the 2024 budget. He stressed that he raised the issue of the road on the floor of Senate in August 2023 and the Senate resolved that it should be given speedy attention. "I want to call on the Senate to add it in the 2024 budget, because people have been calling from my senatorial district to confirm if it is part of the budget," he said. The lawmaker also urge the Federal Government to prioritize the abandoned projects across the country in the 2024 budget for the betterment of the citizens and development of the country.
Signed:
Media Unit,
Office Of The Deputy Minority Leader Of The Senate