Peter Obi, former Labour Party presidential candidate in the 2023 election, has criticized the federal government for managing multiple budgets simultaneously.
In a post on X, Obi stated that this approach undermines fiscal responsibility, transparency, and accountability.
Currently, the federal government is working with the 2023 budget, a 2023 supplementary budget, and the 2024 budget. President Bola Tinubu announced that a 2024 supplementary appropriation bill will soon be presented to the national assembly. Obi warned that this could lead to chaos, confusion, and catastrophe.
Obi emphasized that operating four national budgets at once disregards fiscal responsibility and will result in essential projects competing with less critical items for limited resources, worsening the hardships faced by Nigerians.
He argued that Nigerian leaders are disconnected from reality and lack the competence to manage the nation’s finances effectively, betraying the democratic responsibility of responsibly managing public resources.
Obi called for an immediate reversal of this practice in favor of a more responsible and transparent budgeting approach, prioritizing the needs of Nigerians over the interests of a few. He urged all leaders to avoid actions that could drive the country into further economic turmoil.
BudgIT, a civic-tech organization, also condemned the federal government’s plans to implement four national budgets concurrently, describing it as a concerning development. BudgIT’s country director, Gabriel Okeowo, noted that globally, budgets are typically designed to cover 12 calendar months.
