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FG must monitor 2018 budget says Dr Emma Gospel Isong

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FG must monitor 2018 budget says Dr Emma Gospel Isong

fg-must-monitor-2018-budget-says-dr-emma-gospel-isong

must monitor 2018 says

An economist, Dr Emma Gospel Isong has decried the non-full implementation of the 2017 budget.

He, therefore, called on the Federal Government to set up monitoring unit to monitor the full implementation of the 2018.

Dr Isong, who was reacting to the presentation of over N8 trillion budgets to the National Assembly by President Muhammadu Buhari, lamented the half-hazard implementation of the 2017 budget.

“Nigeria’s Budgets has always over lapped, 2016 over-lapped into 2017 and 2017 will also over-lap into 2018, that means we have not even finished implementing each budget and another comes in.

“Now, the President is presenting the 2018 budget and don’t forget there is a N2 trillion deficit in this budget and so was in 2017 budget, we are biting more than we can chew, I really doubt if our sources of revenue will be able to finance this budget”, he said.

Dr Isong said “We should not budget only statement of expenditure. This money is being expected from different sources of revenue generation. My challenge is, we are day-dreaming, and where is the money coming from especially in this period of recession.

“The National budget is a dream, there is one thing to dream and another thing is for you to facilitate its reality. The President has presented the dream, (N8 trillion) for 2018 fiscal year, my challenge for this dream is that, the last dream was not fully realized.

“We should have a clear cut budgetary year, for instance, January-December, our budgetary years are not steady, it either in March and another times it is in November, and the other it is April. We should make it January-December, so that we can assess ourselves.”

The economist added that “What we do in the National Assembly is that we politicize a very strong and crucial instrument of governance which is the budget.

“Federal Government should set up a supervisory committee to monitor the budget implementation, as we have budget presentation, we should have budget monitory unit, to monitor the implementation of the budget in different arms of government and MDAs.”

He said, “the spending power is only 10% and that does not look like we are optimistic of coming out of recession, the more the government spends, it triggers down to the man in the village”.

He commended President Buhari for making good allocation to power, infrastructure, stressing that“There are a lot of infrastructural decay, new project are not very good for Nigeria now and at this time, we should revive ailing and dying structure than sinking more money into new projects.”

On security, he stated, “During former President Jonathan administration, much money was spent on security but some of those money was not used for the purpose it was meant for. That is where the problem is, budget is pre-emptic expenditure, and until it is translated to real substance on ground, it is not complete.

“Nigerian population should monitor the budget, it is our money; Nigeria population are too redundant, too tired of monitoring the budget.”

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