President of the Senate, Ahmad Lawan, on Friday, underscored the need to have a budget reform that will include a law on timeliness in budget passing.
Lawan made the call at business meeting of the Institute of Directors’ Annual Conference in Abuja.
Lawan, who spoke on “Reforming the Budget Cycle: A First Step in Our Journey to the Next Level” said timeliness and deadlines would give leaders focus and make for more definite on deliverables.
According to him, reports indicates that countries like the U.S., Canada, Austria, Brazil, France and India have more definite budget cycles through legislation.
The senate president said it is also important to improve on database showing the social economic conditions of the country.
According to him, a database will be more helpful
for the appreciation of financial projections, despite current efforts by
National Bureau of Statistics and some multilateral agencies in showing
sectoral performances of the economy.
