The Federal Government will revert to the January to December budget cycle, beginning with the 2020 national budget.
The Minister of Budget and National Planning Udoma Udo Udoma stated this in Abuja during the defense of his ministry’s 2019 budget in the Senate.
He expressed the executive’s willingness to comply with the provisions of the Fiscal Responsibility Act 2007 by submitting the Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly on time.
Udoma said it would be achieved by collaborating with the legislature.
The Minister noted that the new arrangement would not only make planning easier for both the public and private sectors but would also ensure proper oversight by relevant committees of the National Assembly.
He said the delay in submitting and passing the 2019 budget was caused by both the executive and legislative arms of government which relegated governance to the back seat because politics occupied centre stage during the 2019 elections.
