Jonathan Alters Budget Cycle, Orders Full Execution

Following criticism by the National Assembly that only 50 per cent of the 2011 budget was implemented, President Goodluck Jonathan Wednesday directed his ministers to achieve “full implementation” of the 2012 budget. Also henceforth, the budget will be submitted to the National Assembly between the last week of September and first week of October so that the budget cycle, which has been ending in March, will now end on December 31.

This is to enable ministries, departments and agencies (MDA) to start executing the budget from January 1 every year in order to achieve full implementation in compliance with the Appropriation Act. Jonathan also directed a stock-taking of all intervention funds at MDAs to know how much has been released to them and what has been applied to the purpose and determine areas that would need more funding for the attainment of accelerated development.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s