NIGERIA’S BUDGETING SYSTEM AND THE NEED FOR CHANGE

Nigeria’s budgeting system has, over the years, come under intense scrutiny due to its inability to deliver the desired level of development and public service. As Ministries, Departments and Agencies (MDAs) of government continue to grapple with little or no release of budgeted and approved funds, there is an urgent need to reform the nation’s budgeting process. A budget should serve as a practical roadmap for national development, not merely an annual ritual that raises expectations only to leave them unmet.The current situation is particularly troubling, with Nigeria said to be implementing the 2024, 2025 and 2026 budgets simultaneously. Such an abnormal situation creates confusion, delays project execution and weakens public confidence in government planning. It also makes it difficult to accurately assess performance, monitor expenditure and hold public officials accountable for the implementation of approved projects.At the centre of this challenge are numerous projects captured in the budgets of various MDAs that are yet to be executed because of funding constraints. Roads remain uncompleted, schools and hospitals await rehabilitation, while critical infrastructure projects continue to suffer unnecessary delays. When funds approved by the National Assembly are either released late or not released at all, development is stalled and the people bear the consequences through poor service delivery and declining living standards.Equally disturbing are the recurring allegations and counter allegations of budget padding and the insertion of strange projects into the national budget. Year after year, controversies emerge over provisions that were allegedly smuggled into appropriation bills without due scrutiny. Such practices undermine the credibility of the budgeting process and fuel public distrust in government institutions.Indeed, many items contained in the national budget remain nothing more than a mirage. Some government agencies are reportedly allocated funds for projects that have little or nothing to do with their statutory mandates. This misalignment not only wastes scarce public resources but also diverts attention from the core responsibilities for which such agencies were established. Every budget item should directly contribute to the mandate of the implementing institution.Nigeria’s budgets have also become unnecessarily bloated and should be made more realistic by expunging non essential items. A leaner and more focused budget would improve implementation, reduce waste and ensure that available resources are channelled towards projects with measurable impact on the lives of citizens. Government must resist the temptation to include politically motivated expenditures that offer little value to the economy.The recent statement credited to a principal member of the House of Representatives that about one billion naira inserted into the budget was meant for youth engagement, community outreach and church instruments within his constituency is, to say the least, unfortunate. Such revelations reinforce concerns about misplaced priorities in the appropriation process. At a time when millions of Nigerians are grappling with economic hardship, every naira in the national budget should be devoted to projects that promote national development and improve the welfare of the people.The Budget Office has a significant responsibility to ensure that unnecessary items inserted into the budget are identified and removed before final approval. Likewise, the National Assembly must discharge its oversight functions with transparency and integrity, ensuring that oversight does not appear to be a witch hunt or a tool for political bargaining. Lawmakers should also make their own budget realistic and resist the inclusion of unnecessary projects. On its part, the Executive, through the MDAs, must ensure that only essential, well conceived and implementable projects are proposed for funding. Furthermore, the Ministry of Finance should guarantee the prompt release of funds, especially for time bound projects, while the EFCC and the ICPC must diligently monitor disbursements to ensure that public funds do not end up in private hands.As 2027 beckons, Nigerians deserve a budgeting system that genuinely reflects the aspirations and priorities of the people rather than one distorted by selfish interests and unnecessary insertions. Budget reform is no longer optional but imperative if the nation is to achieve sustainable development, fiscal discipline and improved governance. A transparent, realistic and efficiently implemented budget will restore public confidence, accelerate national development and ensure that every appropriated naira delivers meaningful value to the citizens.Tochukwu Jimo Obi, Obosi, Anambra State

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