OrderPaperToday – The House of Representatives has passed the 2021 budget of N13.588 trillion, with an increase of over of N500 billion from what was presented by the President Muhammadu Buhari in October.
The approval by the representatives tallies with that made by the senate about same time on Monday when it passed the 2021 budget.
While passing the budget on Monday in a special session, the House directed that the Accountant-General of the Federation (AGF) to immediately maintain a separate record for the documentation of revenue accruing to the Consolidated Revenue Fund in excess of oil price benchmark adopted in this Budget.
“All amounts appropriated under this Act shall be released from Consolidated Revenue Fund of the federation only for the purpose of specified in the schedule to this Act.
“In the event that the implementation of any of the projects intended to be undertaken under this Act cannot be completed without virement, such virement shall only be effected with the approval of the National Assembly,” the House mandated.
On the other hand, the House directed further that all corrections intended to be effected in the budget by Ministries, Departments and Agencies (MDAs) of government should be done through the National Assembly.
“Any error in the schedule to this Act that may hinder the implementation of projects and programs in Ministries, Departments and Agencies may be corrected through a corrigendum issue by the National Assembly: provided that the total sum for the project or program is not affected.”
Also, the House directed that “the Accountant General of the Federation shall immediately upon the coming into force of this bill maintain a separate record for the documentation of Revenue according to the Consolidated Revenue Fund in excess of oil price benchmark adopted in this budget.”
The House also said that “no funds shall be paid out of the monies arising from the account except by an Act/approval of the National Assembly, adding that “the Accountant–General of the Federation shall forward to the National Assembly full details of funds released to the government Agencies immediately such funds are released”.