Breaking: 63 Government-Owned Enterprises’ Budgets Now Publicly Disclosed, Paving The Way For Accountability

In a groundbreaking move towards transparency, the Federal Government has publicly disclosed the 2024 budgets of its 63 government-owned enterprises (GOEs). This marks the first time the income and expenditure profiles of these entities have been made available for scrutiny. The decision has been widely praised by civil societies, anti-corruption groups, and citizens’ rights advocates as an unprecedented step towards increased transparency and accountability……CONTINUE READING

President Bola Tinubu signed the N28.78 trillion 2024 Appropriation Act on Monday, emphasizing that ministers and GOEs impeding effective budget implementation would face consequences. The 2024 budget, which commenced implementation immediately after presidential assent, includes N1.74 trillion statutory transfer, N8.77 trillion recurrent expenditure, N9.99 trillion capital expenditure, and N8.27 trillion debt service.

The major move to disclose the proposed 2024 GOEs’ budget is seen as crucial in shedding light on revenue-generating entities, including key agencies in ports, airports, financial services, regulations, and more. Prominent civic-tech organization BudgIT commended the government for this unprecedented step, highlighting that it responds to public demands for insights into major agencies and enterprises’ budgets.

The published estimates provide a glimpse into the viability and operational capability of several GOEs. Spokesperson for BudgIT, Nancy Odimegwu, expressed appreciation for the move towards transparency and urged further disclosure of comprehensive details of the 2024 Approved Budget to keep citizens informed and engaged with the government.