Presidency, Peter Obi Clash Over ‘Concurrent Implementation of Four Budgets’

The Presidency and the presidential candidate of the Labour Party (LP) in the 2023 general election, Mr. Peter Obi, on Saturday disagreed over the alleged implementation of four national budgets concurrently by the federal government.

While Obi has picked holes in what he described as the implementation of four national budgets concurrently, describing it as a recipe for chaos and frivolity, the Presidency denied that the federal government was implementing four budgets and accused the LP presidential candidate of relying on false claims by BudgIT to spread misinformation.

The Country Director of BudgIT, Gabriel Okeowo, had raised the alarm in a statement issued on Friday that the Nigerian government was planning to concurrently implement four national budgets.

Writing on his X handle on Saturday, Obi said running four budgets was a flagrant disregard for fiscal responsibility, transparency and accountability.

According to the former Anambra State governor, “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 intentional 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 organised 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 prioritise the needs of the Nigerian people, not the selfish interests of a few,” Obi explained.

But in a swift reaction, the federal government debunked the claims that it was running four budgets in a fiscal year.

This was stated on Saturday in a post on X by Senior Special Assistant to President Tinubu on Media and Publicity, Mr. Temitope Ajayi.

Ajayi wrote: “Yesterday, @BudgITng raised a false alarm based on rumours that FG is planning a 2024 supplementary budget. It is important to state that the FG is not planning to run four budgets within a fiscal year as alleged.

“The National Assembly only approved that implementation of the capital components of the 2023 budget and 2023 supplementary should be extended to December 2024 to achieve its objectives. 

“Our country can’t achieve sustainable development when Federal, State and Local governments focus on only consumptive expenditures which is essentially what recurrent expenditures represent.

“It is the capital expenditures that drive economic growth, strengthen private-sector output and create employment opportunities for citizens. 

“As a reputable civic organisation, BudgITng cannot afford to be flippant and be unduly sensational. Expectedly, @PeterObi has jumped on the false claims to push his new round of misinformation.”

Chuks Okocha and David-Chyddy Eleke

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