by Ranti Joseph
The House of Representatives on Monday has advised President Goodluck Jonathan not to spend recklessly before the passage of 2015 Appropriation Bill.
Chairman of the House Committee on Rules and Business, Albert Sam-Tsokwa, Peoples Democratic Party (PDP) Taraba state who disclosed this said any reckless expenditure would lead to a deficit that the country had never witnessed before explaining that though the constitution had empowered the President to spend before budgets were approved, the country would be plunged into financial crisis, if the President failed to exercise restraint.
“I am aware that the constitution allows the President to spend an amount of money equivalent to the one that was spent in the preceding year, pending the approval of the budget. But the snag we have is that last year’s budget was based on crude oil price of over $100 per barrel but as we speak, the price is barely 50 dollars. So, if the President is to spend the equivalent of what was spent in a particular period last year this year, we will run into trouble. So, I will advise that the President to thread cautiously and I call on legislators to expedite action on the budget and put it behind us before going for presidential and governorship elections,” Sam-Tsokwa said.
He accused the Executive of violating the Fiscal Responsibility Act by failing to submit the Medium Term Expenditure Framework (MTEF) four months before submitting the budget proposal.
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