[20:41, 11/16/2017] Moderator: And here we come to the end of this segment of the debate. Thanks to all of you especially the participants. You guys show how rugged you are in every aspect of governance.
Budget as the word implies, is a proposal statement of a nation’s expenditures over a period of one year. It is always classified into two major parts. The government recurrent expenditures and the capital projects expenditures. In Nigeria the former part is always three times higher than the later, and this has been demonstrated in the 2018 budget where the recurrent expenditures stands shamelessly at 6.18 trillion for government officials and their staffs salaries, unnecessary allowances and of course for their looting. The capital expenditures stands at 2.4 trillion.
This act of un equal allocation of funds in the budget constitutes the basis of the nation’s insignificant pace of development both of past and present government in power. This is a constitutional conspiracy of the elites against the poor rural peasants. Since the urban areas hardly get to have the infrastructural development that is needed, how much more those in the rural areas? The most surprising thing is the general public’s attitudes over the conspiracy. No reactions from any quarter of the civil society groups for amendments of the law to increase the capital projects expenditures allocation, since that is the only means where the common citizens can benefit as dividends from the government.
I want to believe that it is out of this insignificant allocation of the capital expenditures that makes the Buhari’s government to come up with some of the highest budgets ever presented, so as to have a considerable allocation of the capital expenditures that can make a difference in solving the nation’s numerous desired projects.
The 2.4 trillions can go a long way in providing many desired infrastructures if managed well as suggested by honorable Eghosa and honorable Frank. It seems to me the government are indeed trying to convince the doubting public of their capacity to deliver their promises. And they seem not to leave any stone unturned by their extra efforts of trying to fund the budget by all means, even if it’s from a controversial source of religious uncertain implications there after.
The Buhari’s government may influence the minds of the majority public by the number of important projects they will fund early 2018 with the 5.5 billions dollars loan and the 100 billion dollars of the Sukuk Bonds loan. And their plans to fashion out a better means of collection of taxes as well as raising the tax rate of some certain goods such cigarette and alcoholic drinks will also improve the internal sources of funding the budget, even as their little efforts of fighting corruption can scare some few corrupt officials away from looting from the capital expenditures.
The budget is that important aspect part of the government’s source of governance which only few care to know what it is all about hence the poor participation of our honorable members on the topic.
I would have thought we ought to explore those very aspects where the present trends of governance are getting it wrong so as to improve on our governance when we arrive into the corridors of power to deliver our new improved system of governance. As it is being said “if a young man that is too young to know what killed his father, that same thing will also kill him” only when he refuse to learn from his father’s mistakes.
My warm gratitude goes to the participants of this remarkable debate topic, Blessing, Frank , Ikechukwu and Eghosa and of course the Moderator of the moderator, you are the brain behind this remarkable topic and I enjoy it especially from the research . Shalom.