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Our futile cost-cutting measures

ONE of the long-identified reasons our annual budgets are unable to improve our capital development at both the Federal and states levels over the years is inadequate funding. The annual budgets allocate roughly 70 per cent to recurrent expenditures while capital needs take about 30 per cent, most of which are not faithfully funded.

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2021 budget

Budgets & forecast for SMEs (1)

Even though there has been considerable  improvement in the appreciation of the peculiar nature of small & medium enterprise, SMEs, in terms of standard operating procedures, SOPs, most banks    expect the small business owner to operate a semblance of formalization in their business approach.

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BudgIT berates state govts for hiding budgets details

BudgIT, a civic tech transparency organization has berated state governments for not disclosing details of their 2018 budget. The group also accused the governments of Lagos state and Kwara state of been notoriously opaque in budget disclosures. In a statement titled, “Opaque Nigerian State Budgets”, signed by the Project Manager, BudgIT, Mr. Abayomi Akinbo, the group said that twenty-one states of the federation are yet to publish online their 2018 budget documents for consumption by citizens.

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