A former Director-General of the Budget Office, Ben Akabueze, says over 56,000 abandoned projects across Nigeria reflect deep flaws in the country’s budgeting system. Speaking at a two-day National Policy Dialogue in Abuja organised by the National Assembly Joint Committee on National Planning and Economic Development, Akabueze said the situation highlights a failure to link budgets with development plans. “The existence of over 56,000 abandoned projects is a clear symptom of failure in linking budgets to development outcomes,” he said.

He noted that although Nigeria has developed several medium- and long-term plans, weak implementation and poor coordination have limited their impact. Akabueze stressed that budgets should serve as a “compass” for directing national resources but questioned their effectiveness in achieving this goal. He also cited the absence of a comprehensive legal framework guiding the budget process, describing existing constitutional provisions as vague.

He called for the enactment of an organic budget law to strengthen fiscal discipline and ensure alignment with development priorities. Also speaking, Vice President Kashim Shettima, represented by his Special Adviser on Economic Matters, Tope Fasua, called for a shift to a development-driven budgeting system. “Budgeting is not about capitulating to limitations; it is about documenting a greater future and challenging ourselves to outperform the past,” he said. The Vice President emphasised that annual budgets must be integrated with medium- and long-term development plans to drive economic growth, reduce poverty, and improve living standards.