Ngozi Okonjo Iweala

Ngozi Okonjo Iweala

‘Budget Of No Hope’, Professional Bodies Says 2014 Budget Is A Shame

The Association of Professional Bodies of Nigeria, on Tuesday expressed concern that 2014 national budget was too much skewed to make meaningful impact on the lives of most Nigerians.

 The President of the association, Mr Bala Ka’oje, said in an interview with the News Agency of Nigeria in Lagos that only 7 per cent of the N14.6 trillion proposed in the budget was earmarked for capital development.

“APBN has checked and analysed the whole thing and have come out with a position on the 2014 budget.

“With a bench mark of $77.5 per barrel and only 7 per cent of the budget for capital development, it means a whopping 73 per cent is for recurrent expenditure.

“Budgeting in this way does not give room for any meaningful development of the nation,” he said.

Ka’oje said that setting aside N13.5 trillion for recurrent

expenditure meant that only 2 per cent of the population would benefit from the budget.

He noted that the 2013 budget was also “structured in that way”.

Accounting to him, continued structuring of the nation’s budget toward recurrent spending will impart negatively on the common man.

“The National Assembly should kindly look into this recurrent issue critically.

“It has become a recurrent decimal in Nigeria, whereby you have a very huge recurrent and nothing for capital, which is not a good balanced budget,” he said.

He said that the common man would benefit the more from a balanced budget especially when driven by employment opportunities.

Ka’oje said more funds should be allocated to boost agriculture, housing and health care infrastructure to generate employment and empower Nigerians at the grassroots.

He advised the Federal Government to block areas of leakages in the system and ensure that revenues accruable into the Federation Account were captured.

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