The Speaker of the House of Representatives, Aminu Tambuwal, on Thursday in Abuja decried the low implementation level of the capital component of the 2013 budget.
Tambuwal, who made the remark in an address of welcome to members from their seven-week recess, said budget implementation still remained a sore point of governance in the country.
The News Agency of Nigeria quoted the Speaker as saying, “The level of implementation of the 2013 capital appropriation is below expectation given the early submission by the Executive and early passage by the Legislature.
“We have consistently advised that the procurement process be employed in a value added manner rather than the adherence to and unproductive worship of procedures.”
Tambuwal said in spite of the early passage of the budget by the National Assembly, not much progress had been made in that regard.
“So far, by the information and statistics at our disposal, there is no justification for this state of affairs,” he said.
The Speaker said based on the poor state of implementation of the budget, all committees of the House would proceed on a one-week oversight to all the Ministries, Departments and Agencies of the Federal Government.
He said the report generated from the oversight would be collated by the committees on Legislative Budget and Research, and Legislative Compliance.
According to him, the committees will submit a joint report to the plenary for consideration.
The report, he added, would guide the House in the consideration of the 2014 budget proposals being expected in October from the Executive.
Similarly, the Chairman, House Committee on Industries, Mr. Mohammed Onawo, has said the National Assembly is uncomfortable with the high interest rates charged indigenous investors and industrialists by financial institutions in the country.
He said interest rates were far lower in many other countries than in Nigeria.
Speaking to journalists during the visit of the committee to Kam Industries Limited in Ilorin on Tuesday, Onawo said the operation of the company was a challenge to the Federal Government for being unable to complete the Ajaokuta Steel Rolling Mill.Tambuwal decries low capital budget implementation by ngcareers