According to PUNCH NEWSPAPER, In a recent statement, the Presidency has officially confirmed that the Federal Government will not be running four budgets in 2024, as previously planned.
This decision was made after careful consideration and consultation with economic experts, who advised against such a move. The initial plan was to have four budgets in 2024, with each one running for only three months in order to align with the new fiscal year starting in January.
However, after a thorough analysis of the potential consequences, it was deemed unwise to have such a short budget cycle. The Presidency has assured the public that this decision does not indicate any financial instability or lack of confidence in the economy.
The Government is committed to implementing necessary fiscal reforms and developing sustainable economic policies in order to maintain a stable and prosperous economy. The focus will now be on ensuring that budgets are well-prepared and implemented effectively, with a strong emphasis on transparency and accountability.
The announcement has been met with mixed reactions from the public, with some expressing disappointment over the delay in the four-budget plan, while others believe it is a necessary step to avoid fiscal chaos. However, the majority of experts and analysts have praised the Government's decision, stating that it reflects a responsible approach towards managing the country's economy.
The Presidency also highlighted that other measures will be put in place to encourage economic growth and development, such as increased investment in key sectors, job creation, and promotion of a conducive business environment.
Overall, this decision by the Federal Government serves as a reminder of the importance of prudent and strategic planning in the management of national resources. As the country strives towards achieving sustainable economic growth, it is crucial to prioritize stability and avoid hasty decisions that could have adverse effects.