'Buhari's govt lacks budget discipline,' Economic expert says
Utomi said those saying the recession was caused by the fall in global oil price are "bad managers".
Utomi said the current economic challenges in the country was not caused by the fall in oil price but poor budget planning and management of resources.
He stated this while speaking at a programme in Nnamdi Azikiwe University, Awka, Anambra state.
According to him, a good budget should contain what the people would want and envisage the implications of future challenges.
Utomi said: "Our major problem is that we lack planning and budget discipline.
"In beginning of a budgeting process, it must be matched with where the people are going; but beyond revenue and expenditure, budget has to do with discipline and execution.
"Those blaming fall in oil price were just bad managers. That was not the cause of this recession."
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He lamented that the same military characters who hijacked the leadership of the country 1966 have remained in power in different guises.
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