Federal lawmakers target N1.4tr for constituency projects
The Senate is seeking the reservation of at least 20 per cent of the country’s annual budgets for constituency projects.
This followed the unanimous approval for second reading of a Bill for an Act to provide for Constituency Projects in the annual budget of the Federation and for other matters connected therewith, 2016.
If passed and assented, N1.4trillion, representing 20 per cent of the N7.2 trillion 2017 estimates which President Muhammadu Buhari is scheduled to present to the joint session of the National Assembly on Wednesday will be for constituency projects.
The budget presentation is coming although the National Assembly has not concluded work on the Medium Term Expenditure Framework (MTEF), a precondition for passing the budget.
The Constituency Projects Bill is sponsored by Senator Stella Oduah (Anambra North). After its second reading, it was referred to the Senate committees on Appropriation and Finance.
The Bill is expected to be passed into law early in 2017 as the joint committee was given four weeks to submit report for consideration by the Senate in plenary.