The minister of budget and national planning, Udoma Udo-Udoma, said
on Tuesday that the era of automatic release of capital allocations in
the annual budget was gone, saying such releases would henceforth depend
on Ministries, Departments and Agencies (MDAs) meeting set performance
indicators.
The minister, who disclosed this in Abuja, said this was part of a
robust monitoring and evaluation framework developed by the ministry for
effective monitoring of the 2016 budget implementation.
“We believe that with all these measures, we will succeed in turning
the economic crisis into an opportunity to restructure and reposition
our economy for growth and prosperity. In this way, we will deliver the
economic change we promised Nigerians,’’ the minister said.
Mr. Udoma said the 2016 budget was designed to help in ameliorating
economic challenges in the country, pointing that the document signals
the determination of the administration to create a diversified economy
that was no longer dependent on crude oil proceeds.
He said the budget, which has an outlay of N6.06 trillion, and
capital expenditure of N1.79 trillion (29 per cent of total budget), was
aimed at reflating the economy, creating jobs for Nigerian youths as
well as supporting the vulnerable groups.
The minister said government was not only committed to strengthening
the link between its plans and budgeting processes to ensure better
implementation of projects and programmes, but was determined to achieve
inclusive development.
0 comments:
Post a Comment
PLEASE BE POLITE