Seun Onigbinde, a budget transparency advocate and co-founder of BudgIT, has said that President Bola Ahmed Tinubu’s administration is operating the most dangerous budget cycle in Nigeria.
He disclosed this in an interview with Channels Television on Thursday.
DAILY POST reports that Tinubu’s government is currently running three budget cycles spanning 2024 to 2026.
The country’s combined national budget for the 2024 to 2026 period stands at N152.09 trillion.
Speaking on the fundamental challenges facing the country’s budget implementation during the period under review, Onigbinde said the Tinubu administration has not prioritised capital projects.
“I always feel that they have not prioritised capital projects.
“It is fair to say that this is the most dangerous budget cycle that we have monitored,” he said.
He added that the Federal Government removed the fuel subsidy and devalued the currency without fully understanding the wider implications for debt servicing.
“There have been bad managers of the fiscal policies of this country. They removed the subsidy and devalued the currency, and they did not properly understand the wider implications of that on debt service,” he said.
Tinubu govt running most dangerous budget cycle in Nigeria history – Onigbinde