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Home Business News

Here Is What Is To Blame For “Budgetgate”

Nairametrics by Nairametrics
February 10, 2016
in Business News, Spotlight
Can Buhari’s Ministers Truly Smile Home With Their Slashed Salary Package, Will Others Be Affected?
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Nigeria is currently facing one of its most embarrassing moment since the advent of democracy in 1999. The controversial 2016 Budget of N6.07 trillion which was presented, changed and then returned is now completely in shambles following its review since it was fully published online.

Nigerians have poured through this budget and have seen figures beyond human comprehension. From budgeting rent for offices in Aso Rock to budgeting N3.2billion for a  hospital in Aso Rock to budgets for books for the Vice President that is more than the entire budgets for books for the Ministry of Education, the entire budget is an apparent disaster and a mess that has embarrassed this government and the country in general.

The Ministry of Budget and National Planning has on Tuesday admitted that there were errors in the 2016 Budget and is blaming the development on the adoption of the Zero-Based Budgeting System. Here is an excerpt of a statement made to the media as reported by the Punch.

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“The proposals have received general commendation. However,   the   details   were   developed   using   the   Zero-Based Budget and is a new concept to our Budget Officers away from our traditional envelop process.

“The members of staff in the Ministry of Budget and National Planning as well as   those   handling   budget   issues   in   all   ministries   and   extra-ministerial   agencies   are   grappling   to   master   the technicalities in the ZBB template.

“As such therefore, some errors are not unexpected in the changeover to the   new   ZBB   approach.

“This   was   the   reason   the   ministry arranged for the proposals to be placed on the website of the Ministry of Budget and National Planning to expose them to public scrutiny.”

This is perhaps another admission of the failures of this government and its inability to appoint a cabinet on time. It has obviously relied on Civil servants who have failed woefully in their jobs. Where this to have happened in the private sector, people would have been fired. Will heads roll for this disaster?

 

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Comments 1

  1. El Komo says:
    February 11, 2016 at 3:03 pm

    Is ZBB also to be blamed for having a Toyota Hilux getting up to 10 different quotes ranging from N1.5m to N27.5m by different MDAs, Ministries and Parastatals?

    This is pure corruption at play.

    Reply

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