The country’s 2012 budget will be ready for lawmakers by November in an effort to secure swift approval of spending plans and avoiding the delays that happened this year, the country’s finance minister said.
“President Goodluck Jonathan wants the budget to come out on time. We are hoping…by October or November we will have something ready,” she told reporters in the capital Abuja late on Sunday.
The former World Bank managing director said budget discussions with members of parliament would begin this week.
Since returning to the finance minister role last month, Okonjo-Iweala has pledged to cut the cost of government, a plan unlikely to be popular with lawmakers who have come under fire for their high salaries and expenses.
Even after the budget is decided, many projects are left unfinished as ministries and local government offices struggle to carry out much-needed infrastructure works.
Africa’s most populous nation is littered with examples of well-funded but unfinished projects, including roads, factories and oil and gas plants.
Nigeria is regularly ranked by international agencies as one of the most corrupt countries in the world but Okonjo-Iweala said completing unfinished projects and opening up transparency would be cornerstones of her plans.
“Our priority is finishing unfinished projects. Of course there will be new ones but we want first to complete the unfinished projects,” she said.
She said details of the revenue federal government distributes to different departments and local offices would be published on the finance ministry website, starting this week with details from the past 18-months.