“The persistence of unwieldy recurrent expenditure, replication of similar cost centres, and insertion of vague cost items in the budget indicate an entrenched and thriving culture of official sleaze through budgeting.” Nigeria NLC Education Health
, education and agriculture in the face of economic hardship that COVID-19 has imposed on the global economy may backfire.
The group also bemoaned the incongruities in Nigeria’s public budgeting system, saying: “The persistence of unwieldy recurrent expenditure, replication of similar cost centres, and insertion of vague cost items in the budget indicate an entrenched and thriving culture of official sleaze through budgeting.”
The coalition added that while this situation once again re-echoes the fact that labour is the real creator of surplus-value and wealth, it is important for the government to address the debt challenge to save jobs. Commenting on the planned removal of petrol subsidy, the coalition said the policies of successive governments concerning the downstream petroleum sub-sector reeks of opacity, double standards, corruption and an obstinate desire to transfer the cost of governance failures and inefficiencies to the Nigerian people.
Furthermore, the failure of our economy to add value to primary resources has become our albatross. From our crude oil to agricultural products, the breakdown in our resource value chain has deepened our crisis of unemployment, the dearth of foreign exchange reserves and local currency tumult,” it explained.
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