• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
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
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Features Press Statement From The Office Of The Senior Special Assistant To The...
  • Features

Press Statement From The Office Of The Senior Special Assistant To The President On National Assembly Matters

By
Charles Akpan
-
September 1, 2016

The Federal Capital Territory Appropriation Act, 2016 passed by the National Assembly has been assented to by Mr. President.

The legal implementation of the Budget, therefore comes into effect, which will result in employment in the formal sectors, and informal sectors through projects implementation and employment there from arising.

BUDGET OF STATUTORY CORPORATIONS AND AGENCIES

 Some Nigerians have asked questions as to the legal and Legislative grounds for the laying of the Budget of Statutory Corporations and agencies before the National Assembly for consideration and passage.

The Fiscal Responsibility Act, 2007 requires that the Budget of the under listed Agencies among others be laid before the National Assembly by Mr. President, in addition to, and independent of the annual Appropriation Act.

1.         Nigerian National Petroleum Corporation                                    

2.         Nigeria Deposit Insurance Corporation

3.         Bureau of Public Enterprises

4.         Nigerian Agency for Science and Engineering Infrastructure

5.         Nigerian Social Insurance Trust Fund

6.         Corporate Affairs Commission

7.         Nigerian Airspace Management Agency

8.         Nigerian Shippers Council

9.         National Maritime Authority

10.      Raw Material Research and Development Council

11.      Nigerian Civil Aviation Authority

12.      National Sugar Development Council

13.      Nigerian Postal Service

14.      Nigerian Ports Authority

15.      Federal Airport Authority of Nigeria

16.      Nigerian Mining Corporation

17.      Nigeria Re-insurance

18.      Nigerdock Nigeria Plc

19.      Securities and Exchange Commission

20.      National Insurance Corporation of Nigeria

21.      Nigeria Re-insurance Corporation

22.      Nigerian Telecommunication

Read Also:

  • Tinubu: Shuttle Diplomacy and the Power of Showing Up
  • MAAUN Public Health Students Host Seminar to Combat Drug Abuse and Preventable Diseases
  • FutureMap Graduates Over 1,000 Students from STEAM Camp in Jigawa

23.      National Automotive Council

24.      Nigerian Tourism Development Corporation

25.      National Communication Commission

26.      National Agency for Food and Drug Administration & Control

27.      Nigerian Customs Service

28.      Federal Inland Revenue Service

29.      Central Bank of Nigeria

 

Among others

The rationale are:

a.       It is a requirement of the law that the National Assembly as a Legislative body should consider and pass the Budget of each of them.

b.      It is what is spent in the National Budget together with the totality of the expenditure of the collective of the Government Corporations that amount to the total Annual Expenditure of the Country.

c.        The vacancies created by retirement in each of these Parastals and the new employable vacancies are determined by the budgetary requirement of the Agencies as will be approved by the National Assembly. Therefore the other rationale for this is to create, regulate and open up employment in the different Parastatals.

d.      It is also to stimulate the economy, in that there are so many capital projects in the parastatals which when approved by the National Assembly, the parastals will award thus releasing money and stimulate spends into the economy.

e.      It will also ensure accountability by the Corporations because they will only raise and spend as approved by the National Assembly and will increase activism of the National Assembly in her oversight Responsibility because they will be overseeing implementation as approved, and know surplus Revenue to capture for subsequent years’ Appropriations.

f.        It will increase Non – Oil Revenue internally generated. The Agencies are under the Law to keep 20% their operational surplus and remit 80% to the Federal Government.

g.     This process of Appropriation will ensure that no revenue is hidden because of the eagle eye of the approving National Assembly.

There has also been questions that some of these Budget were already approved for them by the committees of the Legislatures.

And the answer is that it is not allowed by the Constitution.

Section 62(4) of the Constitution states:

“     Nothing in this section shall be construed as authorising such House to delegate to a committee the power to decide whether a bill shall be passed into law or to determine any matter which it is empowered to determine by resolution under the provisions of this Constitution, but the committee may be authorised to make recommendations to the House on any such matter.“

Senator (Dr) Ita Enang

SSA to the President on National Assembly Matters- (Senate),

Charles Akpan

Head Press and Public Relations

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
  • TAGS
  • Federal Capital Territory Appropriation Act
  • National Assembly
  • Senator (Dr) Ita Enang
Previous articleNigeria, Dialogues On Future Of Work Initiative
Next articleNAF Aircraft Attacks Location of Boko Haram Leadership
Charles Akpan
Charles Akpan
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

Minister of Innovation, Science and Technology, Mr. Uche Nnaji. PHOTO: X | @chiefuchennaji

Alleged Certificate Forgery: Why Uche Nnaji Must Resign or Get Fired Immediately

GWA Award Winners 2025

PHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th Anniversary

Christian Genocide and the Conspiracy against Nigeria By Femi Fani-Kayode

General Lucky Irabor (rtd) and the DG VON Jibrin Baba Ndace and his book Scars: Nigeria’s Journey and the Boko Haram Conundrum

General Irabor @60 and the Scars that Tell Nigeria’s Story By Abdulsalam Mahmud

Professor Dantani Ibrahim Wushishi Registrar National Examinations Council

NECO’s Unexpected Renaissance By Abdullahi O Haruna Haruspice

Senator Ali Ndume

Senator Ali Ndume: Bold, Blunt and Unapologetic By Ozumi Abdul

Pantami’s Reinvention and the Road to 2027 By Kabir Akintayo

Federal High Court Declares Pat Utomi’s “Shadow Government” Plan Illegal

President Tinubu’s domestic shuttle: Why it matters, by Fredrick Nwabufo

C-130H Plane

Ejigbo C-130H Crash: 25 Years of Grief and Resilience By Queen Amina Mohammad

How Customs Turned Communication into a Weapon

APC National Chairmanship aspirant, Mallam Saliu Mustapha.

Saliu Mustapha: The Echo Ilorin Cannot Ignore By Haroon Aremu Abiodun

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Tinubu: Shuttle Diplomacy and the Power of Showing Up
  • MAAUN Public Health Students Host Seminar to Combat Drug Abuse and Preventable Diseases
  • FutureMap Graduates Over 1,000 Students from STEAM Camp in Jigawa
  • Finally, Tinubu’s Embattled Minister Resigns Amid Certificate Scandal
  • Tinubu Confers National Honour on Outgoing INEC Chairman Mahmood Yakubu
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Tinubu: Shuttle Diplomacy and the Power of Showing UpMAAUN Public Health Students Host Seminar to Combat Drug Abuse and Preventable DiseasesFutureMap Graduates Over 1,000 Students from STEAM Camp in JigawaFinally, Tinubu's Embattled Minister Resigns Amid Certificate ScandalTinubu Confers National Honour on Outgoing INEC Chairman Mahmood YakubuArmy Partners Media to Tackle Fake News, Boost National SecurityBadaru Hails NAF’s Vision, Commissions New Headquarters Annex in AbujaJUST IN: INEC Boss Prof. Yakubu Hands Over Leadership to Acting ChairTroops Repel Terrorists Attacks in Borno, Launch Rescue Operation for Abducted VillagersCAN Refutes ‘Christian Genocide’ Claims, Says Violence in Nigeria Affects All FaithsAlleged Certificate Forgery: Why Uche Nnaji Must Resign or Get Fired ImmediatelyPantami Foundation Graduates 250 Gombe Youths in Tech, EntrepreneurshipTinubu Orders NAHCON to Reduce 2026 Hajj FaresSecurity Operatives Nab Influencers Over Defamatory Campaign Against Senator Shehu BubaArmy Dislodges Bandits in Taraba Forests Under Operation Lafiya Nakowa
X whatsapp