The Senate on Wednesday deferred further deliberation on the 2014 -2016 Medium Term Expenditure Framework and Fiscal Strategy Paper, asking financial experts in its committees on Budget and Finance to study the document in order to properly guide the senate in its debate.
Senate leader, Senator Victor Ndoma –Egba, had led debate on the document, sent by the executive to outline the implementation of the 2014 budget.
Chairman of the Senate Committee on Information, Media and Public Affairs, Senator Eyinnaya Abaribe, noted that the senators needed to be guided by financial experts because their inputs would assist the senators to make useful contributions when properly enlightened on the document.
“The senate should have directed its committees on Budget and Finance to critically examine the document and give us their own version of their findings while scrutinising it instead of relying on the facts presented to us from the executive,” he said.
Also in his contribution, Senator George Akume, noted that the document was flawed and suggested that it ought to be sent back to the executive to rework and represent it.
Senate President David Mark therefore directed the committees to study the document, identify its shortcomings and suggest how the senate could tackle the faults in it.
He said, “This document is as important as the budget and we need to be guided by experts inputs.”
Meanwhile, a bill for an Act to amend the Companies and Allied Matters Act CAP.20, LFN, 2011 and Other Related Matters 2013 passed second reading on the floor of the senate on Wednesday.
The bill, sponsored by Senator Odion Ugbesia, is seeking a review of CAMA to make it compulsory for corporate organisations owned by the Federal Government to submit their annual budget to the senate for scrutiny.
The bill also seeks an amendment to the act to make the Federal Government submit nominees into the board of directors of its corporate organisations to the senate for approval.
Punch
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