Budget: Osinbajo responds to Senate ultimatum; directs NNPC, others to comply

Vice President Yemi Osinbajo[Photo Credit: aitonnline tv]
Vice President Yemi Osinbajo[Photo Credit: aitonnline tv]

The acting president, Yemi Osinbajo, has issued an executive order outlining the timeline and procedure for government offices to submit their yearly budgets, less than two days after the Senate demanded offices comply with the relevant fiscal law within two weeks.

The Senate had on Wednesday asked Mr. Osinbajo to ensure the submission of the budgets of 31 government establishments, including the Nigerian National Petroleum Corporation and the Nigerian Ports Authority.

Section 21 of the Fiscal Responsibility Act demands that proposed revenue and expenditure of the mostly 31 revenue-generating and state-owned companies be submitted to their supervisory ministers not later than end of August of each financial year.

Lawmakers have for years accused powerful agencies like the state oil firm, NNPC, of non-compliance.

The Senate said the executive had breached the law “year in year out”, and issued a two-week ultimatum for compliance.

Mr. Osinbajo responded Friday with an executive order warning relevant offices of “appropriate sanctions” if they fail to comply henceforth.

According to the order, all agencies of government, including those not listed in the Fiscal Responsibility Act, are to prepare and submit their budgets for the next three years to the Minister of Finance and the Minister of Budget and National Planning on or before the end of May every year.

The agencies are then expected to submit their annual budgets derived from estimates of revenue and expenditure projected in the three-year schedule to the ministers, on or before end of July – a month earlier than provided for by the Act.

Afterwards, the budgets would be transmitted to the National Assembly for approval.

The acting president also directed government agencies to stop spending on any capital or recurrent expenditure, except personnel costs, pending approval of their budgets.

Read the full text of the executive order

All Agencies, whether or not listed in the Fiscal Responsibility Act, shall, on or before the end May every year, cause to be prepared and submitted to the Minister of Finance and the Minister of Budget and National Planning their schedule of revenue and expenditure estimates for the next three financial years.

2. All Agencies shall, on or before the end of July every year, cause to be prepared and submitted to the Minister of Finance and the Minister of Budget and National Planning their annual budget estimates, which shall be derived from the estimates of revenue and expenditure as projected in their three-year schedule.

3. A joint committee of the Ministries of Finance, and the Budget and National Planning shall review such estimates and ensure their conformity with the national plan and the financial and budgetary regulations before processing them for approval and early transmission to the National Assembly.

4. Supervising Ministers and Heads of Agencies as well as the Chief Executive Officers of Government owned companies shall verify that the process of preparation, harmonisation and collation of budget estimates are as stipulated in relevant laws and guidelines as well as ensure strict compliance with this Executive Order.

5. Except with the express consent of the President, no payment shall be made in respect of any capital or recurrent liability of an Agency, other than payment of due salaries and allowances, unless the Agency has an approved budget and the payment is in conformity with the approval.

6. Heads of Agencies and Chief Executive Officers of Government owned companies shall take personal responsibility and be subject to appropriate sanctions for any failure to comply with this Order.

7. Any revenue or other funds of an Agency in excess of the amounts budgeted and duly expended shall accrue to the consolidated revenue fund of the Federal Government.

8. This Executive Order shall take effect immediately.

Dated this 18th day of May 2017.


Prof. Yemi Osinbajo, SAN, GCON

Acting President of the Federal Republic of Nigeria


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:DIABETES Is CURABLE! Don't Let It Threaten You! To NORMALIZE Your Blood Sugar In 21Days For Life, Click Here!!!.

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

  • Sarah

    Leadership & Sagacity.
    Just maintain your professional demeanour and all this brouhaha will blow off in due course.
    Tough times don’t last but tough people do.
    Meanwhile strengthen your link with PMB himself by bringing Aisha Buhari into govt as Joint Chiefs of Staff at same level with Kyari. That way you will always be sure your communication with PMB cannot be screened by Mamman Daura or Tunde Sabiu who may likely be pro Kyari.
    May God continue to bless you with the wisdom and strength to fulfill your constitutional role.

    • Julius

      Nice comment…God bless n respect !

    • Aluko Samuel Sugerboy

      Bless you sarah

  • IG

    This is how a leader should speedily act. Thank you Mr Acting President.

  • TrueFairGame

    Good. The VP is hard working and we all need to support

    • George

      Yorubas will never change, evil men and women.

      He Osinbaju never advised his father master right when Buhari was alive only to quickly doing the right thing just to stab Buhari on his back and paint him evil.

      Osinbaju why are you doing this to man you fakely said treated you like a son, why don’t advice him to do likewise when he disobeyed all the senate requests.

      • Opekete

        You are like your father the devil and there is no truth in you. Whey you speak a lie you speak out of your character of the devil. You are so prejudiced and ethnically blind that you will even accuse the VP of stabbing his boss in the back. Let me tell you and I am not holding forte for the VP, if you do not change and ask for a clean heart, your heart will become clogged and cardiac arrest will follow. Go figure.

        • George

          You will die first like your brother Adeleke who employ fake nurses to inject him.

          Why now this half a paint seize called Osinbaju rushing to be doing the right things, where were him during his father Buhari disobedient to everything the senate requested for from the presidency.

          You YOOrobers think you people are smart watch out the Abokis aren’t sleeping and we the South South and South East will join them when time comes. silly tribe.

          • Opekete

            Do yourself a favor, go for some grammar lesson. I think it will do you a world of good. Access and ability to use the internet is not a license for sanity. Perhaps a check up @ upstairs could be of benefit also/

          • George

            You and people like you will never have peace.

            The Abokis are ready for you people.

          • Abolade Olajohn

            You need help!

      • Kehinde Adebola Atoloye

        Please go for 21 days fasting and prayer without food and water. You need serious divine help so that the devil bewitching you from your village will let go of you.

    • Pirofessor Politico 2000


      Yemi Oshinbajo and Muhamadu Buhari are birds of a feather

      What’s good in this unrealistic directive? No federal agency can submit a realistic budget for the year 2020,
      in advance, as directed when the Naira value itself is buffeted by vagaries of ding-dong fiscal and monetary
      policies of the federal government. Is Yemi Oshinbajo just waking up? Has he not been a member of this
      same riotous government of BUHARI, which can’t point to anything done sensibly or correctly since 2015?
      Nigerians have naively pledged their lives to charlatans; and now in despair, Nigerians rue to die in suicide.

      Cut to the chase, Yemi Oshinbajo and Muhamadu Buhari are charlatans cut from the same cloth of retards.

      Ask Yemi Osinbajo: “Where is your anti-recession policy plan?” He’ll chew the nib of his Bic biro for long.
      There’s really nothing to choose between Buhari and Osinbajo in their insidious and directionless walkabout.
      Neither man understands a theory of governance to understand the politics of resolving under-development.
      In an ideal country, neither man (without a worked-out policy) should be entrusted with the future of a country.

      • Bzone

        It said to submit an estimated schedule of revenues and expenditure for the next 3 yrs, then submit the budget which shall be derived from those estimates

      • Abolade Olajohn

        Oga, read well. They are not to submit budget, they are to submit ESTIMATED FINANCIAL PROJECTION. Every company in the private sector does that. There is nothing unrealistic here. Thank God someone has wake-up to ensure budget is passed on time hencefort and that many eyes sees whatever anyone is trying to hide or pad.

      • Kehinde Adebola Atoloye

        You are not even polite, calling Buhari and Osinbajo retards. You must be sick. So who is now a retard since you cannot even understand simple instruction, rushing into conclusion without diligent digestion of the contents of the Executive Order. The order directed the agencies to submit estimated budget and not actual budget to their heads. ESTIMATED BUDGET in case you are not seeing well. Tell me, is the enabling of a vibrant business environment not a factor to be considered for a better economy? You are talking of an anti-recession policy. Is working towards a better business environment not anti-recession? Now, who is a retard? He is already implementing a policy and you are wherever you are asking for the policy when the action is loud and clear. Sit there, he will come to your house to give you the anti-recession policy. Nonsense.

  • sammyctu ode

    For the first time in d life of any Nigerian Senate they did d right thing by calling for their budgets. However seems they ‘ve a hidden agenda cos their illegal companies will not ‘ve contracts from these cash cow government agencies. FG is wrong not to compell these corrupt agencies to submit their budgets especially Chronic Corrupt Nnpc, Nap, Customs and NCC. However I fully support d PMB’s administration as the best Nigeria ever had since independence. PMB we Nigerians are praying for u and u are well IJN.

  • JOHN

    The Ag President has done well. PMB would have cause serious controversy by instigating the concerned agency heads to flout the constitution and Senate directive on this issue. No wonder the country and her economy have been retrogressing.

  • Gary

    That folks is why we insist that going to school makes all the difference when it comes to upholding the rule of law and due process.
    People, please vote wisely in 2019.

  • PolyGon2013

    Sai Osunbajo.

  • Olatubosun

    Thank God, oshibajo is representing buhari well

    • Shut the f#$@k your mouth up. Which Buhari? Don’t get God angry. “President” Osinbajo is his own man getting the job done for Nigeria and Nigerians. The almighty God has decided to forgive us. Buhari must stay in the UK permanently.

  • Olatubosun

    Nigeria is progressing

  • Olatubosun

    The budget of hope has been submitted

  • NwaIgbo

    Mr Law Makers, please submit also your own budget and spending forecast, let us know how much you have spent on constituency projects so that we can independently verify them. How many personnel do you have in your office, how much is budgeted for them and who approved that?
    Why do we have to buy cars every year and how many cars are you entitled to? Please police your yourselves before acting as if you are reasonable. See how a reasonable honorable (VP O) responded, in your own case if we ask you any question, you give us the middle finger and begin to mock us in song like your fellow scumbag Dino.