Zero release of 2022 Capital Funds  in August rents Air …. As FG proposed 2023 Budget





Nigerians may suffer more as the journey towards 2023 general elections gathered momentum, with no release of capital funds as at the end of third quarter of the year.


This was coming at a time the Nigerian government is proposing September, 2023 towards presentation of the next year’s budget.


Except for recurrent expenditures , with only payment of salaries and allowances , the current administration may not be able to fund the capital budget elements of this year’s budget.


An investigation launched through a visit to ministries, departments and agencies of government showed slow pace of activities four months to the end of the 2022 calendar year.


Some analyst confirmed that it had been the style of the present administration not to fund 100% yearly budgets, against the expectations of many Nigerians since its inception in 2015.


This had clearly jeopardized the yearly budget circle been boasted by the National Assembly, since the previous years budget will normally run till May or June of the following year.


They also maintained the difficult situation for a sane and accountable leadership, when capital projects funds overlaps each other.


Efforts to clarify the current quagmire from the budget office was being frustrated, as staffers shunned efforts at giving definite response to all inquiries.


Non- implementation of capital budget elements will triple the current situations and hardships, were Nigerians cannot afford a square meal, as services will be greatly retarded across the country.

Related posts