The Nigerian government’s unprecedented decision to simultaneously implement the 2023 Approved Budget, the 2023 Supplementary Budget, the 2024 Approved Budget, and the 2024 Supplementary Budget has sparked significant controversy and criticism.
Prominent voices, including Professor Ndubuisi Ekekwe, an esteemed entrepreneur and investor, have weighed in on the issue. “What a nation, four budgets at once,” Ekekwe remarked. “The Nigerian government’s decision to implement the 2023 Approved Budget, the 2023 Supplementary Budget, the 2024 Approved Budget, and the 2024 Supplementary Budget concurrently has sparked significant controversy. BudgIT Foundation, a civic-tech organization in Nigeria, has strongly criticized this move, labeling it as unprecedented and fundamentally flawed.”
Professor Ekekwe highlighted the lack of strategic vision as a core issue plaguing the nation. “Nigeria lacks strategic vision and when that happens in a nation, all problems appear like ‘money problems.’ Yes, if we put it in the budget with more money, the problem will be solved. That is not the issue. The real deal is that we have no capacity to execute, and measure impacts and outcomes. Otherwise, how do you execute four national budgets at once?”
The criticisms from Ekekwe and BudgIT Foundation underscore concerns about the government’s ability to effectively manage and implement multiple budgets concurrently. The ongoing debate raises questions about Nigeria’s fiscal strategy and its capacity to deliver on its financial commitments.
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