FG To Begin New Budget Calendar In 2018
Minister of budget and National Planning, Senator Udoma Udo Udoma, has said that the federal government has concluded plans to begin a new budget calendar that will see its annual budget run between January and December each year.
Udoma said this on Tuesday while briefing Senators on the performance level of the 2017 budget as at the end of 3rd quarter in September.
It would be recalled that recently, the Senate committee on national budget reforms recommended for a restructuring of Nigeria’s budget period to operate from January to December, as against the current practice whereby annual budgets take effect from the middle of the year.
“It doesn’t really matter what time of the year the budget runs but what matters really is that whatever time we chose, let us ensure that we stick to it. We think the Senate committee’s proposal for January to December is preferable because it allows members of the private sector to plan properly in the long term but we must not deviate from it by any guise”.