VP, ex-Budget DG call urgent reforms to address ₦68 trillion budget system failures
VP Kashim Shettima and former Budget Office DG Ben Akabueze warned Tuesday that weak alignment between budgets and development plans undermines growth, calling for urgent reforms. They spoke at Abuja policy dialogue as government seeks to integrate long-term plans with annual fiscal frameworks.
Shettima defended the ₦68 trillion 2026 budget expansion, noting revenue reforms since January 2026 have improved earnings through better fiscal controls. He cited tariff reductions on essential materials and removal of duties on pharmaceuticals, machinery, and manufacturing equipment aimed at boosting productivity.
Akabueze revealed 56,000 abandoned projects nationwide, describing them as evidence of systemic disconnect between planning and implementation. He called for comprehensive legal framework to define roles, timelines, and responsibilities, noting existing constitutional provisions are vague. The duo urged shift from expenditure-focused to results-driven budgeting system.
Will these reforms finally turn Nigeria's budget system into a 'compass' directing resources to development priorities, or will bureaucratic inertia continue to undermine service delivery?