A fresh row has broken out between the Senate and the House of Representatives over the passage of the 2013 budget. The Senate is ready to pass the budget before the end of the month, but the House of Representatives is insisting on full implementation of this year’s budget before passing the 2013 Appropriation Bill.
The House wants the Executive to extend the 2012 fiscal year to January for it to implement this year’s budget effectively. Attempts to iron out the differences have not succeeded. The House is insisting that the execution of this year’s budget has not reached 65 per cent. Besides, there are fears over the likely mismanagement of the fourth quarter allocation, which is just being released. Only N170billion of the N300billion fourth quarter allocation has been cash-backed by the Ministry of Finance.