Obi describes execution of four National Budgets in a concurrent manner as recipe for frivolities

The Labour Party Presidential Candidate in the 2023 elections, Peter Obi has described the implementation of four national budgets concurrently as recipe for chaos and frivolity.

Recall that in December 2023, both Chambers of the National Assembly extended the implementation period for the capital component of the budget from December 31, 2023, to March 31, 2024, along with the N2.17 trillion 2023 supplementary budget passed in November 2023.

Earlier in March, following requests made by President Bola Tinubu, both the Senate and the House of Representatives extended the implementation period for the budgetary appropriations from March 31, 2024, to June 30, 2024.

With just four days remaining until the June 30, 2024, deadline for the affected 2023 budgetary appropriations, the two chambers cut short their recess to hold separate sessions to consider further extensions ahead of their previously set resumption date of July 2, 2024.
Meanwhile, the 2024 Appropriation of N27.8b is also running in the midst of all the extensions.

Writing on his X handle on Saturday, the LP standard bearer said it is flagrant disregard for fiscal responsibility, transparency and accountability.

According to him, “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 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.