From Ndubuisi Orji, Abuja
The House of Representatives has cautioned Ministries, Department and Agencies (MDAs) against making unrealistic projections in the 2022 Appropriation Bill to be presented to the parliament soon.
The speaker, Femi Gbajabiamila, stated this, on Monday, while declaring open interactive session between the House Committee on Finance and MDAs on the 2022-2024 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP).
Gbajabiamila, who was represented by the House leader, Alhassan Ado-Doguwa, said the present economic realities requires assessment of local and international dynamics that underpins decisions on budgeting.
He noted that the COVID-19 pandemic has disrupted global economy significantly, with countries experiencing different levels of economic contraction.
According to him, “our situation has of course been compounded by other factors unique to society. The consequence of these developments is that our ability to pursue a robust development agenda has been severely constrained.
“However, the fact of this new reality does not absolve us of the obligation to do all that is necessary to achieve our nation’s most pressing development objectives.”
Gbajabiamila added that “more than anything else, this moment requires us above all to engage in an honest assessment of the local and international economic dynamics that underpin our decisions about budgeting, spending, and strategic planning.
” It is not in the best interest of Nigeria, and it does not serve the government’s agenda to make plans based on projections that are unlikely to come to fruition.
“We cannot make projections and commitments unless we are reasonably certain that we can achieve those projections and deliver on the commitments we have made.”