The House of Representatives has urged the President Bola Tinubu-led executive arm of government to comply with Section 11(1)(b) of the Fiscal Responsibility Act, 2007 and submit the 2025 Budget Proposal to the National Assembly without further delay.
This followed the adoption of a motion of urgent public importance moved by the member representing Abak/Ika/Etim Ekpo Federal Constituency of Akwa Ibom State, Hon. Clement Jimbo at plenary yesterday.
Moving the motion, Jimbo said the Fiscal Responsibility Act 2007 in section 11(1)(b) stipulates that the federal government must, not later than four months before the commencement of the next financial year, cause to be prepared and laid before the National Assembly a Medium-Term Expenditure Framework (MTEF) for the next three financial years.
The lawmaker expressed worry that the time the National Assembly required to exercise its functions as provided by the law was technically being taken away by the executive’s non-compliance with section 11(1)(b) of FRA 2007.
He argued that: “The Fiscal Responsibility Act 2007 provides for the prudent management of the nation’s resources, ensures long term macroeconomic stability of the national economy, secures greater accountability and transparency in fiscal operations within a medium- term fiscal policy framework and the establishment of the Fiscal Responsibility Commission to ensure the promotion and enforcement of the nation’s economic objectives and for related matters.
“Section 88 and 89 of the 1999 Constitution, as well as section 30(1) of FRA 2007, specifically, section 88(1), stipulates that subject to other provisions of the 1999 Constitution, each house of the National Assembly shall have the power, by passing resolutions, to direct, or cause to be directed, an investigation into any matter or thing with respect to which it has power to make laws, and into the conduct of affairs of any person, authority, ministry of government department charged or intended to be charged with the duty of or responsibility for executing of administering laws enacted by the national assembly and for disbursing or administrating monies appropriated or to be appropriated by the National Assembly.”
Adopting the motion, the House resolved to set up an ad-hoc committee to ensure compliance within two weeks.
