Implementation of N500 Billion Special Intervention Fund Not Possible in 2016 Budget – NASS

The chairman, Senate Committee on Appropriation, Sen. Danjuma Goje, has said that the implementation of N500 billion intervention fund contained in the 2016 budget proposal will not be feasible since there are no clear implementation strategies.

 He spoke at an interactive session with Ministry of Budget and Planning, Ministry of Finance, Central Bank of Nigeria (CBN) Accountant General’s Office and other stakeholders in the economy.

According to Goje, he  noted that though the executive gave explanations about the implementation strategies, they were not satisfied. `There is no detailed, clear cut structure laid down for implementation of this project because what we have in this budget is N300 billion recurrent and N200 billion capital.

`We had to push hard yesterday to get some details which were not convincing. For instance, the explanation we got was that N5, 000 would be given to one million Nigerians. `Who would choose the one million people, what structures you have in place to make sure that you choose the right people

Goje noted that though the executive gave explanations about the implementation strategies, they were not satisfied. Goje pointed out that while the National Assembly was in support of the programme, implementing it in 2016 might not be feasible. He suggested that the money be added to the budgetary allocation for sectors like power, transport and health, while those responsible would map out better strategy against 2017.

Responding, the Minister of Budget and Planning, Mr Udoma Udo Udoma, said that the special intervention programme was a political commitment which the present administration would not hesitate to fulfill. He promised to meet with relevant stakeholders to discuss on better strategies for its implementation.

The chairman reiterated the need for more budgetary allocation to agriculture and solid mineral sectors in view of the emphasis on diversification. On diversification, the minister said that the N9 billion allocated to solid minerals and N43 billion to agriculture would help to create an enabling environment for private investment.