Nigerian government says it does not operate a 'shadow budget'
Nigeria's government said it does not operate a 'shadow budget' or spend public funds outside the constitutional and statutory framework. Finance official Mr Oyedele said public money is not expended outside the established framework. The statement responds to debate over fiscal transparency.
Nigeria's government said it does not operate a 'shadow budget' or spend public funds outside the constitutional and statutory framework established for public finance. According to Premium Times, finance official Mr Oyedele said that, for the avoidance of doubt, the federal government does not expend public money outside the established framework.
The statement responds to recent debate over the transparency of public finances in the country. The official stressed that budget processes remain subject to legal and institutional oversight.
Transparency of public spending continues to be closely watched by investors and the public in Nigeria. How the government's assurances about its budget practices are received will become clearer in the period ahead.
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