Former Governor of Anambra State and former 2023 presidential candidate of Labour party, Mr Peter Obi, has urged the Federal government to reverse immediately the current anomaly of simultaneous implementation of four national budgets, saying it amounts to “blatant disregard for fiscal responsibility, transparency, and accountability.”
He said it is a call “to action for all Leaders to desist from actions that will further drive the country into economic chaos”, according to a post in his X handle Saturday.
Recall that the Federal government is currently implementing the 2024 Appropriation Act of N28. 7 trillion and about a month ago, President Bola Tinubu indicated that he would be presenting before the National Assembly the 2024 Supplementary Appropriation Bill.
Just last Thursday, President Tinubu asked the Senate, to further extend the implementation period for the capital component of the ₦21.83trn 2023 budget, and the ₦2.17trn 2023 supplementary budget from June 30 to December 31, 2024.
Both Chambers had in December 2023, extended the implementation period of the capital component of the budget for the fiscal year from December 31, 2023 to March 31, 2024, along with the ₦2.17trn 2023 Supplementary budget passed in November, 2023.
Again, on the 19th and 20th of March this year, a further extension was sought by the president for the implementation period from March 31, 2024, to June 30, 2024.
Reacting to the latest developments, Obi stated that “All available evidence has confirmed that the Nigerian government is implementing four national budgets concurrently.”
According to the former Anambra State governor, “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. -PO”
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