Encomium
As part of efforts to get the country out of its economic mess, there is always need for the Federal Government to yearly reveal plans to new revenue in order to fund the budget. Although, passage has not been that timely, owing to disagreement between the executive and legislature, even implementation is appalling.
As a matter of concern, we have noticed that budget passage do not follow a consistent date due to one reason or the other.
Some of the more serious issues associated with Nigeria’s budget are too concrete in nature, hence, the prolonged and late passage.
The National Assembly requires an average of 4 months and 10 days to pass each year’s budget. Historically, most budgets are usually presented to the National Assembly within the last two months (November and December) following the budget year, and in most cases, the budget is passed 4 to 6 months into the budget year.
Here’s the compilation of dates when Presidents, both past and present, signed Appropriation Bills into law in the last 17 years…
1. 2017 – June 12
2. 2016 – May 6
3. 2015 – May 19
4. 2014 – May 24
5. 2013 – February 26
6. 2012 – April 13
7. 2011 – May 27
8. 2010 – April 22
9. 2009 – March 10
10. 2008 – April 15
11. 2007 – October 11
12. 2006 – December 6
13. 2005 – October 14
14. 2004 – December 18
15. 2003 – February 6
16. 2002 – March 26
17. 2001 – November 2000
