FG to Introduce Zero-Based Budget System

The Federal Government has announced plans to introduce a zero-based budget system in line with its anti-corruption crusade and to block leakages in the public service. Vice President Yemi Osinbajo told the ongoing Nigerian Economic Summit on Wednesday, 14th October, 2015 in Abuja that the initiative would require ministries, departments and agencies to justify their budgetary allocations for each year. He explained that the government has come up with the system to ensure that unnecessary items are not listed in the budgets of federal institutions except for projects with direct impact on the economy. He said that although the process would be rigorous and stressful, it would ensure transparency and accountability.

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This article was first published on 17th October 2015 and updated on October 19th, 2015 at 10:00 am

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