Peter Obi, former presidential candidate of the Labour Party in the 2023 election, has sharply criticized the federal government for concurrently operating multiple budgets.

In a post on X on Saturday, Obi decried this practice as a blatant violation of fiscal responsibility, transparency, and accountability. Presently, the federal government is executing the 2023 budget, 2023 supplementary budget, and the 2024 budget. Additionally, President Bola Tinubu announced on May 29 that a 2024 supplementary appropriation bill would soon be presented to the national assembly.

Obi warned that this approach is a recipe for chaos, confusion, and catastrophe. "All available evidence has confirmed that the Nigerian government is implementing four national budgets concurrently," he stated. "This is in blatant disregard for fiscal responsibility, transparency, and accountability. It is also a recipe for chaos, confusion, and catastrophe."

He added that such recklessness would lead to unnecessary expenditures in approved budgets, competing with essential projects for limited resources, thereby worsening the plight of the Nigerian populace.

Obi criticized Nigerian leaders for being disconnected from reality and lacking the competence to manage the nation’s finances effectively. He said, "It indicates that the leaders are out of touch with reality and lack the competence to manage our nation’s finances effectively. Unfortunately, this deliberate act of fiscal recklessness is being undertaken by elected representatives of the people, thereby betraying one of the cardinal pillars of democracy. Leaders are elected to responsibly manage public resources in an organized way."

He called for an immediate reversal of the situation in favour of a more responsible and transparent approach to budgeting. "We must prioritize the needs of the Nigerian people, not the selfish interests of a few. This is a call to action for all leaders to desist from actions that will further drive the country into economic chaos."