The former Governor of Anambra State and 2023 Labour Party Presidential Candidate, Peter Obi, has accused the Nigerian government of implementing four national budgets simultaneously, describing it as a “betrayal of democracy”.
Obi said the four national budgets go against fiscal responsibility, transparency, and accountability.
The Senate on Thursday resumed plenary to extend the capital section of the 2023 supplementary budget, stating that the budget is to run concurrently with the 2024 national budget.
The implication is that the country is currently running three budgets: the 2023 budget of N21.83 trillion, signed by ex-president Muhammadu Buhari, the N2.17 trillion 2023 supplementary budget by President Bola Ahmed Tinubu, the N28.7 trillion 2024 budget, and an anticipated 2024 supplementary budget, thereby resulting in the simultaneous implementation of four budgets.
Reacting to this, Obi, in a statement on Saturday, said that this reckless action will lead to a competition for limited resources between frivolous items in approved budgets and essential projects, exacerbating the suffering of Nigerians.
Obi said neither the National Assembly nor the executive have any excuse to promote or condone such unconscionable behaviour and called upon all the leaders to desist from actions that will further drive the country into economic chaos.
The former governor has been well known for consistently criticising the government for being out of touch with reality and lacking the competence to manage the nation’s finances effectively.
He added that “this deliberate act of fiscal recklessness” by the elected government betrayed one of the cardinal pillars of democracy, saying that leaders are elected to responsibly manage public resources in an organised way.
Obi, who was a popular youth candidate, however, urged an immediate reversal of this situation, demanding a more responsible and transparent approach to budgeting that prioritises the needs of Nigerians over selfish interests.
“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.” Obi stated.
Obi’s Full Statement
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 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
