Labour Party (LP) Presidential Candidate from last year’s elections, Mr. Peter Obi, has criticized the administration of President Bola Ahmed Tinubu for running four national budgets concurrently, calling it a recipe for frivolity, chaos, confusion, and catastrophe.
In a series of posts on his X handle on Saturday, Obi expressed that this development is a blatant disregard for fiscal responsibility, transparency, and accountability.
According to Daily Trust, the two chambers of the National Assembly held emergency plenary sessions on Thursday to consider President Tinubu’s request. They eventually extended the capital section of the 2023 main and supplementary budgets and approved that these budgets run concurrently with the 2024 national budget, while awaiting the 2024 supplementary budget from the presidency.
Obi criticized this decision, stating it shows that Nigerian leaders are out of touch with reality and lack the competence to manage the nation’s finances effectively.
“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,” Obi said. “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.”
He further remarked that this act of fiscal recklessness by elected representatives betrays one of the core principles of democracy. Leaders are elected to manage public resources responsibly and in an organized manner.
Obi demanded that this situation be reversed immediately in favor of 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 behavior,” he said.
Obi concluded by calling for governance by leaders who are frugal and responsible in handling public resources, asserting that this is the only way to build a great nation.
