President Goodluck Jonathan on Tuesday in Abuja deferred the presentation of the 2014 budget before a joint session of the National Assembly.
Jonathan’s decision to defer the presentation of the budget is contained in a letter to the Senate President, Mr. David Mark, dated November 18, 2013.
Jonathan had requested the Senate to grant him the slot on November 19, 2013 to address a joint session of the two chambers.
The president cited the disparity in the benchmark agreed by the two chambers as reason for his inability to present the budget.
He said the budget would be presented as soon as the Senate and House of Representatives harmonised their position on the Medium Term Expenditure Framework.
However, the distinguished Senate has approved the Medium Term Expenditure Framework (MTEF) based on a benchmark of $76.5 per barrel while the House of Representatives used a benchmark of $79 per barrel.
“It is not feasible for me to present the budget in the absence of a harmonised position on the MTEF.
“In the circumstance, it has become necessary to defer the presentation of the 2014 budget to a joint session of the National Assembly until such a time when both chambers may have harmonised their positions on MTEF.
“It is my hope that this would be within the shortest possible time,” Jonathan added.
