Post by Arise News (@arisenews)

N8.8 Trillion Budget Overspend Is an Own Goal for Transparency on Future Borrowings — Oye

Drawing from the IMF report, it is clear that this is not an issue of money missing or diverted. What has happened is that the government overspent its budget by N8.8 trillion due to capital carryovers, and has subsequently amended the 2024/2025 Appropriation Act. However, the issue that arises from this is that it reveals the character of government — that it can overspend by N8.8 trillion, which is about 2% of GDP.
N8.8 Trillion budget overspend Is not a deliberate mistake, but a deliberate exclusion by FG

Dele Oye, Former President, Organised Private Sectors

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