BudgIT, Africa’s leading civic-tech organization, has expressed strong disapproval of the Federal Government’s plans to implement four national budgets simultaneously.
On Thursday, June 27, both the Senate and House of Representatives extended the lifespan of the capital component of the 2023 Appreciation Act and the 2023 supplementary budget. This decision comes while the 2024 budget is already in effect. Additionally, President Bola Tinubu is expected to submit a 2024 supplementary budget to the National Assembly in the coming weeks, bringing the total to four national budgets for the 2024 fiscal year.
Gabriel Okeowo, BudgIT’s country director, released a statement on Friday describing this situation as “a worrisome development.” The organization pointed out that globally, budgets typically operate on a 12-month calendar, from January to December.
BudgIT warned that running multiple budgets concurrently could lead to competition for scarce resources between projects from the 2023 budget and 2023 supplementary budget, and essential projects in the 2024 budget.
The organization urged the government to address the issues arising from “this convoluted budgeting system and return to a disciplined January to December Budget Calendar.”
Okeowo further cautioned, “The concurrent implementation of four budgets will lead to severe budget credibility issues, as revenues projected in 2024 alone would most likely be used in implementing four different budgets, negatively impacting service delivery in critical social sectors and the provision of essential public infrastructure.”
