TEXT OF A PRESS CONFERENCE BY THE SENIOR SPECIAL ASSISTANT TO THE PRESIDENT ON PUBLIC AFFAIRS, DR DOYIN OKUPE, ON TUESDAY 19THNOVEMBER,2013
PROTOCOOL
I
have invited you this afternoon to shed some light on issues concerning
the presentation of the 2014 budget by President Goodluck Jonathan and
explain the importance of the benchmark to the budget process.
 |
| DR DOYIN OKUPE |
For
the purpose of clarity and for the benefit of ordinary Nigerians, a
budget is fundamentally predicated on annual projected total accruable
revenue to the country. In simple terms, and with reference to Nigeria
and in view of the fact that the bulk of our expected annual revenue is
from the sale of crude oil, it follows therefore that the total volume
of sale of crude oil in a year, multiplied by a projected average crude
oil price in the international market (BENCHMARK) represents this bulk
of our revenue.
In
the preparation for the 2014 budget, and in accordance with projections
in the 2014-2016 Medium Term Expenditure Framework, the Federal
Government initially proposed a $ 74 per barrel for crude oil. However,
in the course of further consultations, some understanding evolved
around $76.5 per barrel on which the budget was prepared. It
subsequently became known that there is an apparent disparity in the
figures adopted by the two houses of the National Assembly as benchmark
for the budget. This disparity, if not harmonized, will grossly
undermine the veracity of the projections in the 2014 budget as prepared
by the Federal Government.
The
President therefore chose to allow the two Houses arrive at a
harmonized figure, after which the presentation of the 2014 budget will
be done by Mr President such that the processing and approval by the
National Assembly will not be unduly encumbered.
We
trust that this pragmatic approach will be appreciated and wholesomely
well received by the distinguished senators and Hon members of the
National Assembly.
It
is in this light that we unequivocally debunk insinuations in some
section of the Media that the President boycotted the National Assembly
today for security reasons or that government has anything to hide on
the budget issue.
We
assert that this is not a boycott of the National Assembly or an attempt
to create discord between the two arms of government. Rather, it is an
effort to improve on procedural efficiency, conviviality and
co-operation between the Legislature and the Executive in the overall
interest of our Nation, our citizens and good governance.
Thank You
Dr Doyin Okupe
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