The federal government has denied reports of planning to prepare four budgets for the year 2024. Temitope Ajayi, a government spokesperson, clarified that there is no supplementary budget for 2024. Instead, the National Assembly extended the capital components of the 2023 budget to December 2024 to achieve specific objectives.
According to Punch News, Ajayi stated, "The extension of the 2023 budget's capital components to December 2024 is to enable the government to complete ongoing projects and achieve its objectives." He emphasized that the government is committed to transparency and accountability in its budgeting process.
The clarification comes after reports emerged that the government was planning to prepare multiple budgets for 2024, sparking concerns about the potential for fiscal recklessness. Ajayi's statement has put to rest fears of a possible budget crisis, assuring that the government is on track to meet its economic goals.
The extension of the 2023 budget's capital components is expected to facilitate the completion of ongoing projects and ensure a smooth transition to the 2024 budget. With this clarification, the government has demonstrated its commitment to responsible fiscal management and transparency.