The Bill to mandate the President and governor of a state to lay annual budget ninety days to end of a fiscal year, has passed second reading in the Senate.
This followed presentation of the bill, which was sponsored by the Deputy Senate President, Ike Ekweremadu and presented at plenary by Leader of the Senate, Ahmad Lawan.
The bill is meant to ensure that Nigeria reverts to the January to December budget cycle.
The bill, which was rejected by the President in 2018, seeks to amend the 1999 Constitution by making it mandatory for the President and Governor of a state to lay the annual budget estimates before parliament, three months to the end of a financial year.
It also mandates the national assembly to pass the budget before commencement of the next financial year.
President Buhari declined assent to the constitution amendment bill on the grounds that Section two and three of the proposal appeared not to take full cognisance of the provisions of section fifty eight of the 1999 constitution.
