BudgIT, a leading civic-tech organization, has expressed strong disapproval of the Nigerian government’s plan to implement four national budgets simultaneously. This move, according to Gabriel Okeowo, BudgIT’s Country Director, will lead to severe budget credibility issues and negatively impact service delivery in critical social sectors.
The Senate’s recent decision to extend the capital section of the 2023 supplementary budget, which will run concurrently with the 2024 national budget, has raised concerns. The implication of this decision is that Nigeria is currently operating 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. Additionally, a 2024 supplementary budget is anticipated, resulting in the concurrent implementation of four budgets.
Okeowo described this situation as worrisome, emphasizing that budgets are designed to run from January to December, as is the global standard. He warned that the concurrent implementation of four budgets would lead to frivolous items in the 2023 Approved Budget and 2023 Supplementary Budget competing with essential projects in the 2024 Budget for the limited resources available to the Federal Government.
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BudgIT urged the government to amend the complications of this convoluted budgeting system and return to a disciplined January to December Budget Calendar. Okeowo stressed that the concurrent implementation of four budgets would negatively impact service delivery in critical social sectors and the provision of essential public infrastructure. He emphasized that revenues projected in 2024 alone would likely be used to implement four different budgets, further exacerbating the issue.
“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.
The organization’s condemnation of the government’s plan highlights the need for a more efficient and effective budgeting system in Nigeria. As the country grapples with various economic and social challenges, it is essential to ensure that resources are allocated and utilized optimally to drive development and improve the lives of citizens.
