56,000 Abandoned Projects Highlight Nigeria's Budget Flaws

Ben Akabueze, the former Director General of the Budget Office, stated that the existence of 56,000 abandoned projects across Nigeria reflects deep flaws in the country's budgeting system. He made these remarks during a national policy dialogue organized by the National Assembly's Joint Committee on National Planning and Economic Development in Abuja.

Akabueze pointed out that these abandoned projects are clear symptoms of a failure to link budget development with outcomes. He noted that although Nigeria has developed several medium and long-term plans, weak implementation and poor coordination have limited their impact.

He stressed the need for a comprehensive legal framework to guide the budget process, describing the existing constitutional provisions as vague. Akabueze called for the enactment of an organic budget law to strengthen fiscal discipline and ensure alignment with development priorities.

Vice President Kashim Shettima, represented by his Special Adviser on Economic Matters, Tope Fasua, emphasized the necessity of shifting to a development-driven budget system to address future challenges.