Champion Newspapers Limited
For a better society

Stop financial indiscipline, prioritize nation’s development, Obi tells FG

35
Print Friendly, PDF & Email

 

 

The 2023 Labour Party presidential candidate, Peter Obi, has urged the Federal Government to stop what he called financial indiscipline and prioritise human and national development.

 

Obi, who wrote on X on Monday expressed his concerns, particularly in the realm of education.

 

He wrote, “As the giant of Africa which we are, I remain concerned about our fiscal indiscipline as a nation. Imagine the situation in our Education sector where the global average of Secondary School enrollment is above 80%, while in Nigeria it is 28%.”

 

The former Anambra governor further questioned the budgetary priorities.

 

Obi lamented, “Yet our budget for the National Assembly Car Parks is N6 billion. The budget for the National Assembly Recreational Facilities is N4 billion. Approved for the Construction of Hostels in 12 tertiary Institutions is just N1 billion.”

 

Obi called for financial discipline and the federal government to prioritise the allocation of resources to critical areas.

 

He wrote, “It is time for us to stop this financial indiscipline and embrace financial discipline by prioritizing the allocation of resources to the critical areas of human and national development.”

 

 

In December 2023, the House of Representatives approved a total of N28.78 trillion in expenditure for the 2024 fiscal year.

 

This was N1.2 trillion more than the N27.5 trillion budgetary proposal presented to the joint session of the Senate and House of Representatives by President Bola Tinubu on November 30, 2023

 

A breakdown of the approved sum showed that a total of N1.74 trillion is for statutory transfers, N8.27 trillion for debt service, N8.78 trillion for recurrent (non-debt) expenditure, and N10 trillion is for capital expenditure for the year ending December 31, 2024.

Comments are closed.