FG to submit 2024 budget in October
The Federal Government has initiated the preparation of the 2024 budget through the Ministry of Budget and Economic Planning.
The government plans to submit the budget in October 2023. As part of this process, the budget office of the federation has started training sessions on the Government Integrated Financial Management Information System Budget Preparation Sub-System (GIFMIS/BPS) for all Ministries, Departments, and Agencies (MDAs).
The Director General of the Budget Office of the Federation (BoF), Ben Akabueze, emphasised the importance of the training in improving fiscal discipline and accountability in managing public funds.
He stated that the training aims to enhance the collective capacity of the MDAs in effectively utilising the Budget Preparation Sub-System of the Government Integrated Financial Management Information System during the budget preparation process.
The director of revenue and fiscal policy at the Ministry of Economic Planning and Development, Hapsatu Mormoni, represented the Director General at the training session.
According to him, the GIFMIS budget preparation subsystem training programme provides participants with the tools and knowledge required to facilitate its budgetary processes.
“This technology-driven system enhances our efficiency, minimizes bottlenecks, and enhances accountability,” he said.
“As we gather here, it is imperative that we recognise the significance of our roles in aligning our activities with the Nigerian people’s aspirations and the current Administration’s development agenda. President Tinubu’s Administration is committed to fulfilling its promises to our citizens. Our focus, therefore should remain steadfast on using it as a veritable tool for delivering the government’s commitment to all Nigerians.
“Collaboration and synergy between the various MDAs is paramount to achieve this. We must harmonise our sectoral policies and programmes with the overarching National Development Plan 2021- 2025 and the specific agenda of this Administration. We must ensure that our efforts are synchronised, resources are optimally utilised, and the impact of our collective work resonates across the nation.
“MDAs are urged to study the Budget Call Circular in detail and avoid making mistakes that should ordinarily be avoided if they had complied with the relevant sections of the Call Circular. To this end, emphasis will be made in one of the modules this year on key items and sections to note in the 2024 FGN Budget Call Circular. To avoid doubt, we have the BOF Helpdesk running at full capacity currently to take care of all enquiries that officers may have in the preparation of their respective budgets,” Akabueze said.
During the interview session with journalists, Mormoni said, “We have to submit it before the end of October. We hope to meet the deadline so that the National Assembly can also do their own, and then the budget is passed within the year.”
On the 2023 budget, she said, “We are doing well, and we hope to bring out the figure very soon.”
