Former Presidential Candidate, Peter Obi, has sounded a warning that the execution of four national budgets concurrently by the Federal Government is a recipe for disaster. Obi, a renowned economist and former Governor of Anambra State, made this statement while speaking at a forum in Lagos, emphasizing the need for fiscal discipline and proper budgetary planning.
According to Obi, the simultaneous implementation of four budgets - 2022, 2023, 2024, and the supplementary budget - would lead to confusion, inefficiency, and a waste of resources. He stressed that this approach would undermine the government's ability to effectively allocate resources, prioritize projects, and achieve its development goals.
Obi urged the government to focus on a single budget, ensuring its proper implementation and monitoring before moving on to the next one. He also emphasized the need for transparency, accountability, and citizen engagement in the budgetary process to ensure that the country's resources are managed efficiently and effectively.
His warning has sparked a debate among economic experts and policymakers, highlighting the need for a more disciplined and strategic approach to budgeting and resource management in Nigeria.