The Traffic

FG has legal backing to operate multiple budgets — Budget Office DG

The Director-General of the Budget Office of the Federation, Mr. Tunde Oloyede, has stated that the Federal Government has the legal backing to operate multiple budgets. According to Oloyede, the 1999 Constitution and the Fiscal Responsibility Act 2007 provide the necessary framework for the government to manage multiple budgets .

By Rhalialt Arhuoizah 

Key Points:

- Legal Framework: The 1999 Constitution and the Fiscal Responsibility Act 2007 empower the government to operate multiple budgets.
- Budget Office's Role: The Budget Office is responsible for ensuring that the government's budgetary framework is aligned with its fiscal policies and objectives.
- Multiple Budgets: The government may operate multiple budgets due to unforeseen circumstances, such as changes in revenue projections or unexpected expenditures .

Oloyede's statement provides clarity on the government's ability to manage its finances effectively, despite the challenges posed by multiple budgets. The Budget Office plays a critical role in ensuring that the government's budgetary framework is transparent, accountable, and aligned with its development objectives .