The Nigerian Institute of Management (NIM) has called on the Federal Government to change the budget process and implementation to enable Nigerians to feel its impact.
The institute’s president and chairman of council, Michael Olawale-Cole, gave the advice while fielding questions from journalist in Abuja on Tuesday.
The NIM, which picked holes in the approach of budget preparation, said it would be difficult for the country to achieve the desired economic growth if the issues were not urgently addressed.
The institute faulted the “top-down” approach of budget preparation as against the “bottom-up” system which it noted was more transparent and guaranteed inclusive economic growth.
“As an institute of management, we are not happy with the way budgeting is done in Nigeria: Budgeting should be from the bottom-up