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(1) The Annual Budget Funding Amount is part of the national budget and its use and expenditure are subject to the same budgetary processes that are necessary to ensure efficient allocation, responsible use and effective monitoring of expenditure.

(2) The use of the annual allocation of the Annual Budget Funding Amount shall be

(a) to maximise the rate of economic development;

(b) to promote equality of economic opportunity with a view to ensure the well-being of citizens;

(c) to undertake even and balanced development of the regions; and 

(d) Guided by a medium-term expenditure framework aligned with a long term national development plan approved by parliament.

(3) where the long-term national development plan approved by Parliament is not in place, the spending of petroleum revenue within the budget shall give priority to, but not be limited to programmes or activities relating to

(a) agriculture and industry;

(b) physical infrastructure and service delivery in education, science and technology;

(c) potable water delivery and sanitation;

(d) infrastructure development in telecommunication, road, rail and port;

(e)  physical infrastructure and service delivery in health;

(f) housing delivery;

(g)  environmental protection, sustainable utilisation and protection of natural resources;

(h) rural development;

(i) developing alternative energy sources;

(j) the strengthening of institutions of government concerned with governance and the maintenance of law and order;

(k) public safety and security; and

(l) Provision of social welfare and the protection of the physically handicapped and disadvantaged citizens.

(4) For any financial year, a minimum of seventy percent of the Annual Budget Funding Amount shall be used for public investment expenditures consistent with the long-term national development plan or with subsection (3).

(5) In order to maximise the impact of the use of the petroleum revenue, the Minister shall prioritise not more than four areas specified in subsection (3) when submitting a programme of activities for the use of the petroleum revenue.

(6) The programme shall be reviewed every three years after the initial prioritisation, except that in the event a national disaster, the minister may make a special request to Parliament for a release of revenue.