A financial expert and budget analyst, Oluseun Onigbinde, says 70 per cent of projects in Nigeria are poorly executed and do not last beyond two years.
Onigbinde, the co-founder and CEO of BudgIT, disclosed this on Monday during an interview with Channels Television, which was monitored by DAILY POST.
Speaking on the heels of the presentation of the 2024 N27.5 trillion budget to the National Assembly, Onigbinde noted that the government needs to show a culture of fiscal responsibility.
According to him, the President Bola Tinubu administration has to move away from the fiscal recklessness that usually greets Nigeria’s budgeting process.
“It is about the culture of the government; people must look at the government and tell what it plans to do. Are you a frugal government? They must be able to deduct your culture. Are you a fugal government or free-for-all-all? Is it by looking at your budget? By looking at your budget, are you prioritising the people or yourselves?
“We have a project tracker; so many projects in the country do not last for two years, 70 per cent. They build solar projects, rural roads and others. This is because contractors that deliver the project do not have any track record of project delivery,” he said.
DAILY POST reports that the breakdown of the budget indicated that security and defence took the highest share, with about N3.25 trillion.
70% of projects in Nigeria’s budgets don’t last beyond 2 years – Expert
