• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Auditor – General Explains Why The 2016 Budget Is Not Zero Based

Editor by Editor
February 19, 2016
in Business News
Share on FacebookShare on TwitterShare on Linkedin

Auditor- General of the Federation (AGF), Samuel Ukura, Thursday, revealed to the senate committee investigating the irregularities in the 2016 appropriation bill, that the budget was not zero-based.

The 2016 Budget left Nigerians on a head trip when figures beyond human comprehension was seen on it. From Budgeting rent for offices at the Presidential Villa to budgeting N3.2 billion for the hospital in the State House to budgets for books for the Vice President that is more than the entire budgets for books for the Ministry of Education.

The Ministry of Budget and National Planning, later admitted the errors and blamed it on the zero based budgeting process that the MDA(s) was still trying to fully understand.
According to the Nation Mr. Ukura noted that the idea of the zero based budgeting by the ministry was done with good intentions, but was forced to revert back to the old envelop system when it saw the realities on ground.

MoreStories

VP Shettima departs Abuja to represent President Tinubu at G20 Summit 

VP Shettima departs Abuja to represent President Tinubu at G20 Summit 

November 21, 2025
NDLEA Intercepts 20kg Cocaine on Brazil-Bound Vessel at Apapa Port

NDLEA Intercepts 20kg Cocaine on Brazil-Bound Vessel at Apapa Port

November 21, 2025

“It is envelope. The zero-based budgeting, they wanted to introduce was not adhered to at the end of the day.

“In zero-based budgeting, it is assumed that such expenditure does not exist, you start from zero and justify why that expenditure must be used.

“ So, it is a system which is good and which would have also helped to set targets, but that wasn’t applied at the end of the day, perhaps because it was hurriedly being introduced.

“Budget proposal and by extension, defense, is not about fighting but discussing on what is made available for one to work with because what they want, they give.”

Tags: Senate
Editor

Editor

Related Posts

Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness
Economy

Senate passes two tax reform bills to modernize Nigeria’s fiscal framework, retains VAT at 7.5% 

May 7, 2025
Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness
Economy

Nigerian Senate to address critical Tax Reform Bills after Easter holidays 

April 4, 2025
Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness
Politics

Senate urges Ministry of Communications to review data cost increase in Nigeria 

March 27, 2025
Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness
Politics

Senate approves Tinubu’s Emergency Rule in Rivers, establishes mediation committee to resolve political crisis 

March 20, 2025
SERAP sues Akpabio over ‘failure to reverse alleged unlawful suspension of Natasha Akpoti’
Breaking News

Court reverses order which nullified any ‘Senate’ action during Natasha’s suit against Akpabio 

March 19, 2025
Kano railway
Real Estate and Construction

Senate announces China Development Bank as new financier to complete Kaduna-Kano rail project

March 16, 2025
Next Post
Analysis: Are Nigerians spending less on Beer?

ANALYSIS: Naira Volatility Is Hitting Brewers Where It Hurts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

uba
tajbank
arco
access bank
nairametrics
first bank






DUNS

Recent News

  • Pharmaceutical companies listed on NGX deliver significant returns in 2025 YTD
  • CBN executes over N5 trillion debt repayments as Banks’ deposit placements fall 
  • Naira slides past N1,450/$1 all week, setting stage for high-stakes MPC meeting 

Follow us on social media:

Recent News

PCN shuts down 751 medicine stores in Gombe

Pharmaceutical companies listed on NGX deliver significant returns in 2025 YTD

November 22, 2025
CBN, forex

CBN executes over N5 trillion debt repayments as Banks’ deposit placements fall 

November 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics