Varsity Don Blames Poor Budgeting On Bad Management
Professor Ademola Ariyo of the Department of Economics, University of Ibadan has attributed the low quality of national budgeting in Nigeria to bad management.
He disclosed this Tuesday at the first public lecture of the Faculty of Management Sciences, tagged, ‘Budgeting and Nigeria’s Sustainable Development: Some Key Management Imperatives’ held at the National Open University, Lagos
He said, ” The unacceptable quality of national budgeting in Nigeria can be attributed to one single problem: bad management. An insightful reflection also suggests that budgeting in Nigeria so far has not been anchored on the features of good management, namely consensus-based national economic goal.”
The Don stressed that the country is blessed with millions of capable management experts who can help entrench the principles and processes of good management into its budgeting endeavour.
Ariyo pointed out that the nation needs to address decisively the nagging issues of ethnicism and religion, political culture, defective educational system, oil as a curse amongst others to pave way for the evolution and sustenance of good budgeting in Nigeria.
His words: ‘the central task centres on how we can eliminate the precipitating factors and negative effect of ethnicism and religion in the management of the nation.’
Ariyo stressed that poverty of good management is the most deadly virus that can afflict a nation, saying it explains why in spite of abundant resource endowment, nation currently wears the toga of paradox of a rich nation, poor people.
“The transmission mechanism is the enduring culture of budgeting mismanagement, which is being sustained and aggravated with oil curse.
