A civic tech organization, BudgIT, has slammed a move by the Nigerian Federal government to implement four national budgets simultaneously.
The organization has warned of severe budget credibility issues and potential negative impacts on service delivery and public infrastructure.
According to Gabriel Okeowo, BudgIT’s Country Director, the situation is worrisome and goes against the standard practice of implementing a single budget from January to December.
The current scenario sees the country 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 Bola Ahmed Tinubu, and the N28.7 trillion 2024 budget. An anticipated 2024 supplementary budget would bring the total to four concurrent budgets.
Okeowo noted that this convoluted system would lead to frivolous items in the 2023 Approved Budget and the 2023 Supplementary Budget competing with essential projects in the 2024 Budget for limited resources. He urged the government to amend the complications and return to a disciplined January to December Budget Calendar.
“The concurrent implementation of four budgets will lead to severe budget credibility issues, as revenues projected in 2024 alone would most likely be used in implementing four different budgets, negatively impacting service delivery in critical social sectors and the provision of essential public infrastructure,” Okeowo stated.
