Nigeria News: Budget Padding Exposed in Lagos
In a startling revelation, BudgIT Foundation, a civic tech organisation in Nigeria, exposed a significant budget padding within the 2024 Fiscal Appropriation Act by the National Assembly. The Federal College of Fisheries and Marine Technology in Lagos, originally submitted a budget of N667 million, but astonishingly, the National Assembly inflated it to N40.88 billion. This represents a staggering 5,000% increase, reflecting the lawmakers’ inclusion of numerous projects costing billions.
Abuja News: Accountability in Public Finance
BudgIT has called out the National Assembly for embedding 12 projects, with substantial budgetary allocations, into the budget of Lagos’s Federal College. These projects span from provision of tricycles and youth training to construction projects across regions. BudgIT urges @nassNigeria to maintain transparency in future budgets. Such actions are crucial in promoting citizen engagement and ensuring government accountability in Nigeria.
Key Takeaways:
- Budget Padding: National Assembly inflated college budget from N667 million to N40.88 billion.
- Project Insertions: 12 additional projects with substantial allocations added to the college budget.
- Call for Transparency: BudgIT advocates for transparent budget processes for 2025.
Commentary: The revelation highlights a pressing need for stringent oversight in Nigeria’s budgetary processes to prevent misuse of funds and ensure that allocated budgets are in alignment with actual requirements.
Original source: BudgIT Foundation
Discussion Prompt: How can citizen engagement be enhanced to promote transparency in budgetary allocations in Nigeria? Share your thoughts below.
