A Nigerian anti-corruption organization, the Network Against Corruption and Transparency (NACAT), has raised serious concerns over the proposed N26 billion budget for the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The group has called for an immediate review by the Economic and Financial Crimes Commission, citing possible financial irregularities and questionable allocations that could undermine the country’s efforts toward transparency and prudent financial management.
Speaking at a press conference in Abuja, NACAT’s Executive Director of Investigation, Fejiro Oliver Tega, and Operations Manager, Stanley Ugagbe, emphasized the need for accountability in public spending. They urged President Bola Ahmed Tinubu to ensure that financial discipline remains a priority and called on the National Assembly to hold a public hearing before approving the budget. They argued that allowing such a large financial proposal to pass without scrutiny could set a dangerous precedent that would encourage further mismanagement of government resources.
A major concern highlighted by NACAT is the staggering N26 billion allocation for local and international travel and training. The organization questioned the necessity of such an amount, arguing that the expenses could be significantly reduced without affecting the agency’s operational efficiency. NACAT estimated that by eliminating wasteful expenditures, the country could save at least N16 billion from the proposed budget.
To reinforce its commitment to transparency, NACAT has announced that it will formally submit a petition to the EFCC to investigate the financial proposal. The organization stated that it would not stand by while public funds are allocated without justification and called on relevant authorities to take immediate action. NACAT stressed that in previous years, similar budgets had been passed in secrecy without public knowledge or input, a practice that must end if Nigeria is to achieve real economic progress.
The group also reaffirmed its commitment to holding government officials accountable, referencing its past petitions to the EFCC concerning former Delta State Governor Ifeanyi Okowa and former Akwa Ibom State Governor Udom Emmanuel, both of whom are currently under investigation for alleged financial misconduct. NACAT insisted that no individual or institution should be above scrutiny, especially when public funds are involved.
Expressing its determination to prevent any further mismanagement of national resources, NACAT called on the Budget Committee to summon the CEO and management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority to appear before the National Assembly to explain the budget proposal in detail. The organization maintained that it would continue to demand accountability from government institutions and ensure that public funds are used for the benefit of the citizens rather than being misappropriated.
The controversy surrounding the budget proposal has drawn widespread attention, with economic experts and transparency advocates warning that unchecked government spending could further strain Nigeria’s economy. The call for an EFCC investigation is expected to put pressure on both the regulatory agency and lawmakers to justify every aspect of the budget before it is approved. Many Nigerians are watching closely to see whether the government will uphold the principles of transparency and fiscal responsibility in its financial decisions.
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