Peter Obi, the presidential candidate of the Labour Party (LP) in 2023, has attacked President Bola Ahmed Tinubu’s administration for trying to execute four budgets at once.
THE MATRIX notes that in order to extend the capital portion of the 2023 supplemental budget, the Senate reconvened in plenary on Thursday.
The budget would operate concurrently with the national budget for 2024, according to the lawmakers
The implication is the country is currently running three budgets: the 2023 budget of N21.83 trillion signed by former president Muhammadu Buhari, the N2.17 trillion 2023 supplementary budget by President Tinubu, the N28.7 trillion 2024 budget, and an anticipated 2024 supplementary budget, thereby resulting in the simultaneous implementation of four budgets.
In a statement on Friday, BudgIT’s Country Director, Gabriel Okeowo, condemned the development and described the situation as worrisome and will amount to severe budget credibility issues.
In a statement via X on Saturday, Peter Obi described the move as a blatant disregard for fiscal responsibility, transparency, and accountability.
According to the former Governor of Anambra state, the action of Tinubu’s government 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 statement reads, “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.
“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.
“Neither the National Assembly nor the executive has any excuse to promote or condone such unconscionable behaviour. We seek and insist on a nation governed by leaders who are frugal and responsible in their handling of public resources. This is the only way we can build a great nation.”
