Shettima and Akabueze advocate for comprehensive reforms in Nigeria's budgeting system
via Punch Nigeria15 hours ago5 min read
Vice President Kashim Shettima and former Director-General of the Budget Office, Ben Akabueze, have called for significant reforms to Nigeria’s budgeting framework, emphasizing the need for a more realistic, disciplined, and development-driven system. Speaking at a National Policy Dialogue in Abuja, Shettima, represented by Special Adviser to the President on Economic Matters Tope Fasua, stated that the dialogue was timely for Nigeria's economic trajectory, aligning with President Tinubu's reform agenda. He argued for larger, people-focused budgets, citing the recent N10 trillion adjustment to the 2026 fiscal budget, bringing it to N68 trillion, and dismissed calls for leaner fiscal planning. Shettima also highlighted recent policy steps, such as tariff adjustments on essential raw materials, pharmaceuticals, fabric, and machinery, aimed at stimulating productivity and easing pressure on citizens. Akabueze, in his presentation, underscored the consequences of weak fiscal coordination, pointing to an estimated 56,000 abandoned projects nationwide as a symptom of the failure to link budgets to development plans. He stressed the need to shift from budgeting for expenditure to budgeting for development outcomes and identified structural weaknesses in Nigeria’s fiscal process. Both officials highlighted the persistent disconnect between multi-year development strategies and annual budgets, further complicated by tensions between the executive and the National Assembly, underscorin
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Original source
This summary was AI-generated from a story originally published by Punch Nigeria.
