HB. 1694-A BILL FOR AN ACT TO ALTER THE CONSTITUTION OF THE FEDERAL REPUBLIC OF NIGERIA, 1999 TO SPECIFY THE PERIOD FOR THE LAYING OF ANNUAL BUDGET ESTIMATES BEFORE THE NATIONAL AND STATE HOUSES OF ASSEMBLIES AND FOR RELATED MATTERS. Bill Sponsored by Hon. Emeka Martins Chinedu. Bill Progress : Committee Stage.
The Bill seeks to alter sections 81 and 121 the Constitution to specify the period upon which national and state budgets shall be laid before the National and State Houses of Assemblies (at least 60 days before the end of the preceding financial year)
A new legislative proposal known as HB. 1694 is currently under review by the Nigerian National Assembly, aiming to amend the Constitution of the Federal Republic of Nigeria, 1999. The proposed bill intends to establish a specific timeframe for when the President and the Governors of states are required to present their annual budget estimates before the respective legislative houses.
At the heart of HB. 1694 is the desire to provide a definitive timeline for budget presentations, which has previously been a source of inefficiency in the current system. The existing constitutional provisions allow the President and Governors the flexibility to submit budget estimates “at any time” within a financial year. This ambiguity has often resulted in delays in both the presentation and passage of budgets, subsequently hindering the timely implementation of development projects across the nation.
By instituting a fixed deadline for budget presentations, HB. 1694 seeks to achieve several important objectives. Firstly, it aims to foster timely consideration and approval of budgets. Establishing a specific date for budget submission would compel the executive branch to prepare and submit its budget earlier, allowing the legislative assembly sufficient time to review, discuss, and pass the budget before the commencement of the new financial year, which begins on January 1st.
Secondly, the bill intends to enhance fiscal discipline and government planning. An early budget presentation would support better foresight and preparation for government initiatives, thereby improving the effectiveness and impact of public programs and projects.
Additionally, HB. 1694 aims to reduce the friction that has historically characterized the relationship between the executive and legislative branches regarding budgetary matters. Disputes over delays and appropriation powers have often created tension, and a clear constitutional guideline on budget presentation timing could help alleviate such conflicts.
Moreover, the bill seeks to improve transparency and accountability in Nigeria’s public financial management. A well-defined budget cycle is expected to promote greater public scrutiny and engagement, ultimately leading to more responsible governance.
This bill aligns with broader efforts to reform Nigeria’s budgetary process, ensuring a more efficient governance framework. The proposal has been acknowledged in parliamentary discussions, indicating its active consideration within the legislative process. If successful, HB. 1694 could represent a significant step towards improving the country’s budgetary framework, fostering greater accountability and promoting effective governance.
