The Senate yesterday allayed fears over the delay in the presentation of the 2012 budget by President Goodluck Jonathan to the National Assembly, saying there was nothing to worry about since it will not affect the overall performance of the budget.
Senate’s spokesman, Senator Enyinnaya Abaribe, in a response to a question bordering on doubts expressed by his colleagues over the possible negative impact of the delay, in the implementation of the budget, assured that the 2012 budget stands no risk of underperforming since it forms part of the Medium Term Fiscal Framework (MTEF), being considered by the Senate.
“We just considered the medium term expenditure framework, and once we pass the medium term expenditure framework, it will give the basis for the budget.
“You will recall that we are in agreement with Mr. President that we should do things not just for one year, but for over a period of time and the MTEF is up to 2015, whereas, the budget is a part of the MTEF. Once the MTEF is put in place, then the budget inside it will also come out. I don’t think we have too much of a problem right now, because the underlying assumptions and basis in the budget is also the same underlying assumptions and basis in the MTEF.