Nigeria: Budget 2008 - Stakeholders Identify Missing Links

18 December 2007

Lagos — The Federal Government has been enjoined to increase the price benchmark for crude oil used in the estimates of the 2008 budget, with a view to increasing allocations to specific sectors like education health, agriculture and transportation among others; while the Budget Office was urged to develop a more realistic benchmark price.

Concerned groups also noted that it has become imperative for budgeting in Nigeria to adopt performance-programme budgeting system in which input-output-outcomes of appropriated funds are articulated; and that effective monitoring and evaluation of projects have been facing some challenges, which need to be overcome in 2008 to allow for effective utilisation and implementation of capital projects.

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