• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

  • Fact-Check
  • Economy
    • Abdullahi Aliyu Maiwada

      Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

      Google Search Tech Digest

      7 Smart Google Search Tips That Will Save You Hours By…

  • National
    • Late President Muhammadu Buhari

      Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

      FULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC Session

      Late President Muhammadu Buhari

      Buhari’s Shocker: I look Forward to Leaving, and when it’s …

      University of Maiduguri

      JUST IN: Tinubu Renames UNIMAID After Muhammadu Buhari

      Official_JAMB_logo

      JAMB Raises Alarm Over 9,469 Illegal Admissions in 20 Tertiary Institutions

    • Government
      • Late President Muhammadu Buhari

        Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

        FULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC Session

        Nigerian Army Recruits Trainees

        Again, FG Postpone Recruitment into Paramilitary Agencies

        Late President Muhammadu Buhari

        Buhari’s Shocker: I look Forward to Leaving, and when it’s …

        University of Maiduguri

        JUST IN: Tinubu Renames UNIMAID After Muhammadu Buhari

  • Security
    • PRNigeria logo fearured image

      UK-Nigeria Pact to Drive Defence Innovation, Joint Ventures

      Nigeria Police Force Logo

      Police Commence Disciplinary Proceeding Against 151 Senior Officers

      Nigerian Navy

      Navy Hands Over Seized 1,575kg of Indian Hemp to NDLEA in…

      Nigerian Police Force

      Notorious Bandit Kingpin, Abubakar Magaji Arrested in Sokoto, Gun, Ammunition Recovered

      Police Officer

      FCT Police Arrest 48 in Coordinated Raids on Criminal Hideouts

  • Features
    • Late President Muhammadu Buhari

      Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

      Late President Muhammadu Buhari

      Buhari’s Shocker: I look Forward to Leaving, and when it’s …

      Buhari: The Soldier Who Couldn’t Conquer Democracy By Umar Farouk Bala

      Gen Lucky Irabor and Muhammadu Buhari

      Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

      Vice Admiral Awwal Z Gambo and Late President Muhammadu Buhari

      Tribute to the Late Former President Buhari, By Vice Admiral Awwal…

  • State
    • Nigerian Navy

      Navy Hands Over Seized 1,575kg of Indian Hemp to NDLEA in…

      Nigerian Police Force

      Notorious Bandit Kingpin, Abubakar Magaji Arrested in Sokoto, Gun, Ammunition Recovered

      Police Officer

      FCT Police Arrest 48 in Coordinated Raids on Criminal Hideouts

      MNJTF troops

      MNJTF Troops Arrest Gunrunner in Lake Chad

      Military Troops during operations

      Troops Eliminate 2 Bandits, Recover Firearms

  • Event
    • Dr Dr. Omoniyi Ibietan of NCC

      APRA Secretary General Omoniyi Ibietan Named ‘PR Change Maker’

      Prof Saudat Abdulbaqi

      Prof Saudat Abdulbaqi Makes History as First Female Dean of UniIlorin’s…

      Late Oba Sikiru Adetona and Late President Muhammadu Buhari

      Oba Sikiru Adetona: The Day Ijebu Lost Its Lion By Tahir…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      On World PR Day, NIPR Charts Bold Path to National Renewal

      Late President Muhammadu Buhari

      Northwest Governors Mourn Buhari, Declare Tuesday Public Holiday

    • PR Nigeria Award
  • E-Paper
Home Economy Why FG Budgeting Plans Are Changing Under The Buhari Administration
  • Economy
  • Government

Why FG Budgeting Plans Are Changing Under The Buhari Administration

By
Laolu Akande
-
October 7, 2015
PRNigeria logo fearured image
*President orders all MDAs to join IPPIS
In order to achieve the socio-economic goals of the President Muhammadu Buhari administration, amidst dwindling oil revenues on the one hand, and the vast number of Nigerians who live in poverty, on the other, there is a need to change the way budgeting is done.
“The greatest challenge to us is controlling ballooning recurrent expenditure and freeing up resources for growth-related capital expenditure,” according to the Vice President, Prof. Yemi Osinbajo, SAN.
He said the government will do something about poverty, “something more direct, different from how we have done it in the past. So budgeting has to be done differently.”
Prof. Osinbajo was speaking earlier today while meeting with permanent secretaries and director-generals for a one-day sensitization session on the 2016 budget and 2016-2020 Medium Term Plan of the federal government.
For instance, he explained that budget planning under the Buhari administration would restore the long term, policy-based approach to budgeting alongside a Zero-Based Budgeting which questions all expenses ensuring greater transparency. This is unlike the traditional budgeting where baseline assumptions are taken for granted.
Under the Zero-Based Budgeting, the VP added, expenditures would be reduced since every item would have to be justified. Besides, the Zero-Based Budgeting also helps to align government’s spending with the declared policy directions of the Buhari administration.
Explaining how the Treasury Single Account also fits in, Prof. Osinbajo said the TSA helps to avoid the under-declaration of revenues by ministries, departments and agencies of the federal government.
“There have been in the past, MDAs that worked outside the budget, for instance the NNPC, which was running huge revenues and spending outside the budgetary process, that is why we have the TSA,” the Vice President asserted.
The TSA therefore enables government to free up revenues that would then become available for economic growth and development.
On the need to control expenditure of the federal government which he said is too high, the Vice President stated that MDAs would therefore be expected to cut costs.
He went on to disclose that President Buhari has already instructed that every agency including the military and the universities must join the Integrated Personnel and Payroll Information Systems, IPPIS, which is helpful in curtailing some of abuses in the salaries and emoluments’ processes of the government.
Continuing he said, “we need to cut overheads too, we can’t spend as we used to spend. We need to block leakages, increase accountability and transparency. This is an absolute necessity, the level of corruption is an outrage and we have to deal with it.”
Also speaking at the session held at the Presidential Villa, the Head of Service, Mr. Danladi Kifasi praised the Buhari presidency for the innovation of such a session coming early in the budget planning process.
According to him, “this is the first time that Permanent Secretaries are invited this early for budget planning. It means we become critical owners of the process, not just a part of it.”
Laolu Akande
Senior Special Assistant-Media & Publicity
In the Office of the Vice President
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
Previous articleMilitary Kills Over 100 Invading Boko Haram Fighters in Yobe
Next articleDamaturu Update: Yobe State Confirms 17 Dead, 11 Injured
Laolu Akande
Laolu Akande
https://prnigeria.com/

RELATED ARTICLESMORE FROM AUTHOR

Abdullahi Aliyu Maiwada

Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

Late President Muhammadu Buhari

Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar Ardo

FULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC Session

Nigerian Army Recruits Trainees

Again, FG Postpone Recruitment into Paramilitary Agencies

Late President Muhammadu Buhari

Buhari’s Shocker: I look Forward to Leaving, and when it’s time, I go to my Grave By Femi Adesina

University of Maiduguri

JUST IN: Tinubu Renames UNIMAID After Muhammadu Buhari

Official_JAMB_logo

JAMB Raises Alarm Over 9,469 Illegal Admissions in 20 Tertiary Institutions

MNJTF troops

MNJTF Troops Arrest Gunrunner in Lake Chad

Late Oba Sikiru Adetona and Late President Muhammadu Buhari

Oba Sikiru Adetona: The Day Ijebu Lost Its Lion By Tahir Ahmad

Buhari: The Soldier Who Couldn’t Conquer Democracy By Umar Farouk Bala

Gen Lucky Irabor and Muhammadu Buhari

‘Buhari Had Never Met Me Before Appointing Me’ — Gen. Irabor Pays Emotional Tribute to Late President

Türkiye’s Ambassador-designate to Nigeria, Mehmet Poroy

Türkiye Warns of ‘Fethullah’ Terrorist Group’s Presence in Nigeria

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • UK-Nigeria Pact to Drive Defence Innovation, Joint Ventures
  • Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices
  • Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar Ardo
  • FULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC Session
  • Again, FG Postpone Recruitment into Paramilitary Agencies
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
UK-Nigeria Pact to Drive Defence Innovation, Joint VenturesCustoms' Maiwada Named Among Nigeria’s 50 Most Influential PR VoicesCritique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar ArdoFULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC SessionAgain, FG Postpone Recruitment into Paramilitary AgenciesBuhari's Shocker: I look Forward to Leaving, and when it's time, I go to my Grave By Femi AdesinaAPRA Secretary General Omoniyi Ibietan Named ‘PR Change Maker'JUST IN: Tinubu Renames UNIMAID After Muhammadu BuhariJAMB Raises Alarm Over 9,469 Illegal Admissions in 20 Tertiary InstitutionsPolice Commence Disciplinary Proceeding Against 151 Senior OfficersNavy Hands Over Seized 1,575kg of Indian Hemp to NDLEA in LagosNotorious Bandit Kingpin, Abubakar Magaji Arrested in Sokoto, Gun, Ammunition RecoveredFCT Police Arrest 48 in Coordinated Raids on Criminal HideoutsBLOODY OPERATION: Troops Crush Terror Gangs, Block N291m Oil TheftNURTW Members Caught Smuggling Military Uniforms for Terrorists in Borno
X whatsapp