Overview

This Executive Order, issued by the Acting President of Nigeria on May 18, 2017, mandates that all government agencies prepare and submit revenue and expenditure estimates for the next three financial years by the end of May each year. Additionally, annual budget estimates derived from these three-year schedules must be submitted by the end of July. A joint committee from the Ministries of Finance and Budget and National Planning will review estimates to ensure alignment with national plans and regulations before approval and transmission to the National Assembly. Supervising Ministers, Heads of Agencies, and CEOs of government-owned companies are responsible for ensuring compliance with budget preparation processes. Except with presidential consent, no payments for capital or recurrent liabilities (other than salaries and allowances) can be made without an approved budget. Non-compliance will result in personal accountability and sanctions. Any excess revenue or funds beyond budgeted amounts will accrue to the consolidated revenue fund. The order takes immediate effect.

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