Prof. Akin Iwayemi, President, Nigerian Economic Society (NES), on Wednesday commended the Federal Government for presenting its 2013 budget proposal before the National Assembly three months to the end of 2012.
Iwayemi said in an interview with the News Agency of Nigeria (NAN) that the 2013 budget presentation in October was a good sign of better things to come.
“It is a good sign and it shows that the government is following due process.
“This early presentation will afford the legislators time to make necessary reviews, adjustments on the budget,” he said.
He also noted that this was the first time in the last five years that a budget would be presented early enough to the National Assembly.
The Chairman, Fiscal Responsibility Commission, Alhaji Aliyu Yelwa, told NAN that President Goodluck Jonathan should also be commended for presenting the 2013-2015 Medium Term Expenditure Framework (MTEF) to the legislators in September.
Yelwa said it was commendable because it was presented earlier than the previous years.
He said; “Sections 11 and 13 of the Fiscal Responsibility Act 2007 provides that the MTEF of every financial year from April should be submitted to the National Assembly before June.“
Mrs Sarah Anyanwu, Head, Department of Economics, University of Abuja, however, told NAN that the National Assembly should complement Jonathan’s effort by promptly passing the 2013 budget for assent.
“ It is good that the Mr President has announced his 2013 budget proposal at this time of the year.
“It is far better than to present it in the first quarter of next year,” she said.
NAN recalls that the 2008 budget was presented to the national legislators on Nov. 8, 2007, that of 2009 on? Dec. 2, 2008.
The 2010 budget came before the National Assembly on Nov. 23, 2009, while the 2011 budget was presented on Dec. 14, 2010, while the 2012 budget was presented on Dec. 13, 2011. ?
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