Presidential candidate of the Labour Party in the 2023 general elections, Peter Obi, on Saturday, lambasted the Federal Government for operating multiple budgets concurrently.
Obi, in a post on X, condemned such a practice as a blatant disregard for fiscal responsibility, transparency, and accountability.
The Federal Government is concurrently operating the 2023 budget, 2023 supplementary budget, and the 2024 budget.
On May 29, President Bola Tinubu said the 2024 supplementary appropriation bill would soon be presented before the National Assembly.
The LP presidential flagbearer said this action by the Federal Government is also a recipe for chaos, confusion, and catastrophe.
He wrote, “All available evidence has confirmed that the Nigerian government is implementing four national budgets concurrently.
“This is in blatant disregard for fiscal responsibility, transparency, and accountability. It is also a recipe for chaos, confusion, and catastrophe.
“This intentionally reckless action will lead to frivolous items in the approved budgets competing with essential projects for limited resources, further exacerbating the suffering of the Nigerian people.”
The former Anambra State governor said Nigerian leaders are disconnected from reality and lack the competence to manage the nation’s finances effectively.
He added, “It indicates that the leaders are out of touch with reality and lack the competence to manage our nation’s finances effectively.
“Unfortunately, this deliberate act of fiscal recklessness is being undertaken by elected representatives of the people, thereby betraying one of the cardinal pillars of democracy. Leaders are elected to responsibly manage public resources in an organized way.
“I respectfully appeal and in fact, demand that this situation be reversed immediately in preference for a more responsible and transparent approach to budgeting. We must prioritize the needs of the Nigerian people, not the selfish interests of a few. This is a call to action for all Leaders to desist from actions that will further drive the country into economic chaos.”
He further stated that neither the National Assembly nor the Executive has any excuse to promote or condone such unconscionable behaviour.
Speaking in the same vein, BudgIT, a civic-tech organisation, has also condemned plans by the Federal Government to implement four national budgets concurrently.
BudgIT’s Country Director, Gabriel Okeowo, in a statement on Friday, described the situation as a worrisome development.
Okeowo noted that globally, budgets are typically prepared to cover 12 calendar months, from January to December.
He warned that if multiple budgets are implemented simultaneously, projects from the 2023 budget and the 2023 supplementary budget will compete for the limited resources available to the Federal Government with essential projects in the 2024 budget.
