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4 budgets concurrently: It’s evidence confusion- Obi to Tinubu

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4 budgets concurrently: It's evidence confusion- Obi to Tinubu

Former presidential candidate of the Labour Party, Peter Obi, has said running four budgets concurrently by Tinubu administration is a recipe for confusion and chaos.

 

Obi said it is a blatant disregard for fiscal responsibility and an invitation to catastrophe. He said the four budgets will be littered with frivolous items that would compete to engulf limited resources that should have been used for essential projects.

 

The Labour Party chieftain said running four budgets concurrently would at the end increase the suffering of Nigerians.

 

“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, Obi said.

 

READ ALSO: Nigeria will be better under Tinubu, have hope- Wike to Nigerians

 

He added that the four budgets also showed the leadership of the country is not in touch with the reality of Nigerians and lacked competence to manage the nation’s finances.

 

He said, “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.”

 

The former governor of Anambra State called for immediate suspension of all budget provisions and streamlining of all four budgets into one. He further called on the National Assembly not to promote or condone unconscionable behaviour of the executive.

 

“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,” he added.