Muhammad Sanusi, Emir of Kano and other accounting experts have called on President Muhammadu Buhari to, as a matter of urgency, review the entire budget process and deploy strategic approach to block revenue leakages in the country if he hopes to deliver on his election promises within the given period.
Sanusi observed that the issue of review of budgetary process was something that had been talked about in the last five years without any feasible approach to tackle it.
The Emir of Kano, in his remark as special guest of honour at the post budget symposium organised by the governing council of Institute of Chartered Accountants of Nigeria (ICAN), said the Federal Government needed to work on its revenue generation process.
“No matter how good your budget is, if you cannot do simple things like track your oil revenue, you can’t meet the basic government obligation to the citizens.
“Before the government goes borrowing, they need to find out why revenue is so low given that our GDP is supposed to be so high,” he said.
On his part, Samuel Olufemi Deru, president, ICAN, said the nation’s economy need surgical and drastic reforms beyond cosmetic privatisation of government companies, urging the government to plug all revenue leakages, revisit and redefine her priorities as a nation.
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