The Nigerian Economic Society has called on the federal government and state authorities to prioritise credible budgeting and transparent public spending, warning that without such measures economic reforms may fail to reach ordinary citizens.
In a statement released by the Society, officials urged policymakers to adopt rigorous budgeting practices that reflect realistic revenue projections and to disclose detailed spending plans to the public. The aim, according to the Society, is to build trust in the government’s fiscal management and to ensure that resources are directed toward the most pressing needs of the population.
“Credible budgets and transparent spending are essential for the success of any economic reform programme,” the Society said. It added that a lack of accountability could undermine the benefits of policy changes and erode public confidence in the state’s ability to manage finances.
While the Society’s remarks were not accompanied by specific policy proposals, the call aligns with broader concerns about Nigeria’s fiscal discipline and the need for greater openness in the allocation of public funds.
Stakeholders in the economic community have long advocated for stronger oversight mechanisms and clearer reporting standards, and the Society’s latest appeal underscores the urgency of these reforms in the current economic climate.
<small>Source: Punch Nigeria — read the original story there.</small>
