Nigeria: 2024 Budget Lacks Transparency in Project Selection - Sen Nwoko

3 December 2023

The senator representing Delta North, Ned Nwoko, has said the 2024 budget presented by President Bola Tinubu last week lacks transparency in selection of projects to be executed.

According to Nwoko, transparency and internal revenue generation are deficient in the budget.

Nwoko, while speaking to journalists on the principles of the budget, said the 2024 budget proposal brought forth profound concerns and reservations regarding its potential to truly address the pressing needs of the Nigerian populace.

"The budget, as presented, failed to adequately address critical facets necessary for the welfare of citizens. Transparency in project selection and allocation remain crucial factors. While the call for equitable and sector-aligned projects is commendable, ensuring greater transparency in these processes is vital to guarantee that the projects genuinely benefit the masses and align with Nigeria's developmental goals.

"The budget presentation failed to offer a clear roadmap on how the outlined allocations and policies directly translate into tangible improvements in the lives of ordinary Nigerians, leaving the populace seeking clarity on the true impact of these proposed measures on their daily livelihoods. Ordinary folks aren't concerned about the big numbers in budgets; they want to know how it will affect their lives," Nwoko said, adding that as an advocate of an economy that truly serves the masses, he wouldn't entirely condemn a government that borrows to provide essential services for their people.

"However, it's not just about borrowing money; it's about generating revenue within the country and making sure it improves people's lives. Setting the exchange rate at N750 per dollar isn't good for the economy. It is stifling and harmful to the naira's value. That's why generating revenue within the country is crucial.

The government needs to find ways to make money within Nigeria, use it wisely and take care of the people. It's essential to keep this process as transparent as possible," he added.

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