Indices of Corruption! By KEMKA S. IBEJI
Please fellow compatriots and especially the professionals in the house, can any organized institution run without a budget? Is it right for any institution to make expenses or appropriations beyond and outside the budget of such such institution? How do we explain expenditure beyond the budget of an organisation, institution or government in a fiscal year? Now why do I ask these questions above and why it is important that I get your answers to them? The Federal Government of Nigeria keeps making annual budgets which are turned into law by the processes of the legislature. These budgets have their sources of funding with benchmarks especially from the Crude Oil which is, as we are made to believe, the major source of funds for the country. Most of the time, these benchmarks are overshot and we have excesses. Whenever there is downward shift in the price of the Crude Oil, the budget will be rebased. Yes! But in recent times as in many years of our experience, we have not h...