The governors of Edo and Rivers States,Comrade Adams Oshiomhole and? Mr. Rotimi Amaechi have? faulted the federal government on the allocation of about 73 per cent of the total budget to recurrent expenditure.
The governors said this yesterday at the annual conference of the Institute of Chartered Accountants of Nigeria.
The 41st conference of the institute which was held in Abuja had “The Dawn of Transformation: Embracing Change and Seizing Opportunities,” as its theme.
Both governors were responding to a paper presented by the Accountant General of the Federation, Mr. Jonah Otunla, on “Infrastructural Transformation and Sound Financial Management for Nigeria’s Socio-Economic Development.”
Both governors faulted some policies of the federal government saying that except government adopt a different approach to managing the economy, it would be difficult for the country to attain its developmental objectives.
For instance, Amaechi said that ,the decision of the federal government to set aside only 27 per cent of the budget for capital project was “laughable”.
He urged the federal government to address challenges in the power, health and education sectors, saying the move would help to boost investment in the country.
According to him, the federal government said the recurrent expenditure was 73 per cent, with this ,how do we transform the economy with about 25 per cent capital”?
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