Akabueze Proposes Blueprint for Nigeria's Abandoned Projects

Ben Akabueze, the former Director General of the Budget Office, unveiled a comprehensive blueprint aimed at addressing Nigeria's significant issue of 56,000 abandoned government projects. During a high-level policy dialogue convened by the National Assembly's joint committee on national planning and economic development, Akabueze highlighted the challenges within Nigeria's public finance system.

He noted that the existing framework operates in silos, leading to inefficient expenditure without adequate focus on developmental outcomes. Akabueze proposed the adoption of a results-based budget framework that directly links public spending to measurable objectives aligned with national development goals.

He outlined several measures to support this transition, including the introduction of an organic budget law, improved project design, and enhanced revenue mobilization strategies. Akabueze emphasized the importance of legislative oversight and adherence to approved budgets to ensure the effective execution of projects across administrations, ultimately aiming to maximize the value of public investments in Nigeria.