A Bill for an Act to provide that 40 percent of Nigeria’s annual budget should be earmarked for capital projects in the next 10 years and for other matters connected thereto yesterday scaled the mandatory second reading on the floor of tHouse of Representatives.
The bill, which was sponsored by the minority leader of the House, Hon. Femi Gbajabiamila, (ACN, Lagos State) was however referred to the House Committee on Appropriation and Finance for further legislative tinkering.
Leading debate on the general principles of the bill, Hon. Femi Gbajabiamila said its intention was to stimulate the economy and impact positively on the lives of Nigerians, adding that the Bbill was also meant to yield dividends of democracy to Nigerians which according him, can only be possible through infrastructural development.
Speaking further, he said that capital projects should be given priority in the nation’s annual budget, stressing that good governance could only be achieved through infrastructural development and that the bill was meant to propel government to put in place institutions that could shape the future of unborn generations.
In their various contributions to the debate, the deputy leader, Hon. Leo Ogor, Hon. Patrick Ikhariale and Hon. Sani Kargo however spoke against the bill, citing section 80(4) of the 1999 Constitution as amended, which stipulates that no moneys shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the federation except in the manner prescribed by the National Assembly.
However, at the end of the debate, the speaker, Hon. Aminu Tambuwal ruled that the ‘ayes’ had it when he put the question for voice vote.
Meanwhile, the House also passed a motion seeking to admit all invited guests into the chamber today for the purpose of its second year anniversary.