Auditor – General Explains Why The 2016 Budget Is Not Zero Based

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Auditor- General of the Federation (AGF), Samuel Ukura, Thursday, revealed to the senate committee investigating the irregularities in the 2016 appropriation bill, that the budget was not zero-based.

The 2016 Budget left Nigerians on a head trip when figures beyond human comprehension was seen on it. From Budgeting rent for offices at the Presidential Villa to budgeting N3.2 billion for the hospital in the State House to budgets for books for the Vice President that is more than the entire budgets for books for the Ministry of Education.

The Ministry of Budget and National Planning, later admitted the errors and blamed it on the zero based budgeting process that the MDA(s) was still trying to fully understand.
According to the Nation Mr. Ukura noted that the idea of the zero based budgeting by the ministry was done with good intentions, but was forced to revert back to the old envelop system when it saw the realities on ground.

“It is envelope. The zero-based budgeting, they wanted to introduce was not adhered to at the end of the day.

“In zero-based budgeting, it is assumed that such expenditure does not exist, you start from zero and justify why that expenditure must be used.

“ So, it is a system which is good and which would have also helped to set targets, but that wasn’t applied at the end of the day, perhaps because it was hurriedly being introduced.

“Budget proposal and by extension, defense, is not about fighting but discussing on what is made available for one to work with because what they want, they give.”

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.


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