CHRICED Demands Accountability in Nigeria's Budget Failures

The civil rights group CHRICED has raised serious concerns regarding the Nigerian government's ongoing failures in implementing capital components of the national budget. Despite repeated assurances for reform and improved fiscal performance, a review of the official budget implementation report by the Federal Budget Office reveals chronic underperformance.

For the 2024 fiscal year, the capital budget is set at ₦9.9 trillion, with only ₦3.27 trillion utilized, reflecting a mere 81.91% of the released funds. The group, represented by Victor Emejuo, noted that the budget office failed to publish the third and fourth quarter implementation reports, violating statutory timelines.

The report indicates that only ₦34.32 billion was released in the first quarter and ₦393.86 billion in the second quarter, leading to unmet development commitments. CHRICED has called for a comprehensive audit of capital allocations from 2023 to 2026 and emphasized the need for transparency and accountability in the management of public resources to achieve sustainable development in Nigeria.