The meeting, which started around 12pm on Monday, October 7, is being attended by Vice President Yemi Osinbajo and secretary to the government of the federation, Boss Mustapha.
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Oct 08 12:59 PM
President Buhari presents 2020 budget
A motion is moved is moved by Senator Abdullahi Yahaya for a joint session of the Senate and the House of Representatives in preparation to receive an address by President Muhammadu Buhari.
The motion is seconded by Senator Enyinnaya Abaribe after which the Senate agreed that the joint session should hold at 2pm.
Oct 08 13:38 PM
Senators begin movement to Rep chamber for budget presentation
Nigerian senators have begun their collective journey to the green chamber occupied by the House of Representatives ahead of the presentation of the budget by President Muhammadu Buhari.
The senators headed for the lower chamber after exhausting the items on their order paper at a sitting.
Oct 08 13:47 PM
Tight security as Buhari presents 2020 budget
Security has been beefed up in and around the National Assembly complex ahead of President Muhammadu Buhari’s visit to present the 2020 budget proposal.
Buhari is to present the proposal before a joint session of the Assembly on Tuesday at 2 p.m
News Agency of Nigeria (NAN) reports that combined teams of security agencies have been deployed at the three entrances into the complex.
Away from the normal routine checks at the gate, heavy security officials, comprising men of the Nigeria Police Force, the Nigeria Security and Civil Defence Corps among others are stationed at the entry points leading to the National Assembly complex.
The entry points are the main gate overlooking the Federal Secretariat, the entrance through the SGF office on Aso Drive and the back gate connecting the Presidential Villa.
A NAN correspondent reports that entry into the complex has been limited to only persons whose names are on accreditation lists submitted by different units in the Assembly.
Journalists and staff of the National Assembly without tags were turned back at the first gate to the Assembly.
NAN observed that branches of of banks within the complex were all closed for the President’s visit.
NAN also reports that the Senate had on Thursday, approved the 2020 to 2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper(FSP).
The approval, followed the adoption of a 16-point recommendation by the National Assembly Joint Committee on Finance and National Planning which considered the MTEF and FSP documents.
Part of the recommendations approved by senate was to increase the Federal Government’s total expenditure estimates in the MTEF/FSP from N10 trillion to N10.729 trillion.
Oct 08 14:02 PM
President Buhari arrives National Assembly
Amid military tunes, President Muhammadu Buhari, clad in white 'agbada' arrives the lower chamber of the National Assembly. He shakes hands with Senate president, Ahmad Lawan, and the speaker of the House, Femi Gbajabiamila. The national anthem is recited to herald the event.
The Senate president calls on lawmaker Abdulfatah Buhari for the opening prayer. A female lawmaker also prays in accordance with the Christian faith.
Oct 08 14:09 PM
Senate President Lawan addresses colleagues
The president of the Senate opens the event with recognition of distinguished Nigerians including the vice president, Yemi Osinbajo, governors, leaders of the All Progressives Congress (APC) including Asiwaju Bola Tinubu, security chiefs.
Lawan welcomes Buhari to the National Assembly.He said all Nigerians had waited in anticipation for this day. "All eyes in Nigeria, and, indeed, abroad are on us," he said about the function.
He said Nigerians needed a budget circle that is seen to work. As a result, he added that the lawmakers would commence work on the budget immediately it is presented.
He called on ministries, departments and agencies to appear before committees in October, 2019 so it would be easy for the National Assembly to pass the budget in December, 2019.
Lawan also assured the president that the National Assembly and the executive arm are on the same page adding that the legislative arm will do what is required to improve the capacity of the agencies generating revenue for the government.
The Senate president promised Buhari that the ninth Assembly is prepared to work with the current administration for the growth and progress of the country.
Oct 08 14:19 PM
Buhari addresses lawmakers
President Muhammadu Buhari begins on a funny note informing the lawmakers and invited guests to pardon his voice because it is the result of working hard.
While thanking the lawmakers for their support, he said the minister of finance will provide details of the budget. He talks about uncertainties ahead in the commercial price of crude.
He says the Nigeria recorded nine consecutive growth in the Gross Domestic Product (GDP). He also said the country had been able to reduce inflation to 0.02 percent.
He says the external reserve has risen to over $42 billion saying this was possible because of the peace recorded in the Niger Delta region of the country.
The president explains some challenges that have been considered in the performance of the 2019 budget and the preparation of the 2020 appropriation bill.
He blamed delay in the passage of the 2019 budget and under-performance of the revenue generating agencies as responsible for the poor performance of the 2019 budget resulting in more focus on recurrent expenditure. He said despite the anomalies, the nation recorded 70% of the deficit.
The president said capital inflow into Nigeria by end of first quarter of 2019 stands at $14 billion as against $12 billion within the same period in 2018. He added that VAT collections were below expectations due to low activities. Corporate tax also affected, thereby leading to low revenue collections in 2019 fiscal year.
The president says part of the budget will focus on welfare for the police and other security outfits since for a nation to develop and progress, there is need for relative peace.
Buhari says N8.155 trillion in revenues is estimated in the 2020 budget
Buhari says the budget will focus more on the projects that are yet to be completed and that the ministries and agencies have not been allowed to add any new project into the budget except special provisions are made for such. He says N2.46 trillion is proposed for capital projects.
“I have directed the stoppage of salaries for any government staff not captured in the Integrated Payroll and Personnel Information System (IPPIS) by end of October 2019," Buhari says adding that the budget deficit for the proposed year is N2.8 trillion and that this would be financed by new domestic and foreign borrowings.
He pleads with the National Assembly to be ready to pass into law two petroleum industry bill he would send to the lawmakers soon.
He completes his address and leaves to lay the content of the proposal before the lawmakers.
Oct 08 15:04 PM
Speaker Gbajabiamila speaks after budget presentation
Speaker Femi Gbajabiamila commended President Muhammadu Buhari for following the constitutional procedure of presenting the budget. While comforting the speaker over the latter's concern with his voice, he said the commitment of the APC government will be made to reflect in the process of passing the budget.
He promised that the National Assembly is poised on returning to a January to December budget circle.
Gbajabiamila said the government will not bask in the euphoria of sycophancy but work to ensure the effective performance of the budget.
This is followed by closing prayers and the national anthem.