Jonathan Delegate Okonjo-Iweala To Present 2014 Budget Thursday

In departure from the traditional practice of the President presenting budget estimates before the National Assembly Joint sitting, President Goodluck Jonathan on Wednesday wrote the Senate that the coordinating minister for the economy and minister of finance, Dr. Ngozi Okonjo-Iweala will present the 2014 national budget on his behalf on Thursday, December 19, 2013.


Jonathan said, "I have delegated the coordinating minister of the economy and minister of finance to lay before the Distinguished Senate of the Federal Republic of Nigeria the 2014 budget estimates."
Also, the Senate on Wednesday unanimously passed the report of the National Assembly Conference Committee on the 2014-2016 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) and approved a $77.5 oil benchmark price.
The MTEF/FSP passage paved the way for the stalled presentation of the 2014 national budget by the executive.

Before now, the National Assembly conference committee last week ended two meetings in a deadlock and postponed indefinitely with the House of Representatives refusing to shift ground on its $79 crude oil benchmark price.
The Senate shifted to $77 per barrel. The executive had proposed $74 per barrel.
Recall that President Jonathan wrote the National Assembly to express his concern over the crude oil benchmark pegged at $79 per barrel by the House of Representatives, stating that without a resolution of the benchmark it would be futile to present a budget that would cause rancour between the executive and the legislature and delay its passage.

Subsequently, Jonathan for a second time, shelved a prior scheduled presentation of the 2014 budget until a consensus was reached between both arms of government on the benchmark.
Meanwhile, the Senate on Wednesday deferred debates on the Asset Management Corporation of Nigeria (2010) amendment bill.
This followed a motion by the Senate Leader, Sen. Victor Ndoma-Egba that the debates be adjourned to enable the service chiefs to brief the Senate on security situation in the country.
The Senate unanimously approved the motion and adjourned debates on the AMCON bill to another legislative day.

The Senate President said "We will suspend the debates and continue on another legislative day to allow many Senators comment on the bill."
The Senate subsequently, went into a closed session with the service chiefs and heads of other security organisations to discuss issues of national security.