The Presidency has dismissed the claims of a non-profit organisation, BudgiT, that the administration of President Bola Tinubu, plans to run four budgets within a fiscal year.

Recalls that the Senate resumed plenary on Thursday to extend the capital section of the 2023 supplementary budget.

In a statement on Friday, BudgIT’s Country Director, Gabriel Okeowo, said it was worrisome that the Federal Government could be drafting a 2024 supplementary budget to be implemented alongside the 2023 yearly budget, 2023 supplementary budget, and 2024 annual budget.

Okeowo condemned the development, stating it would amount to severe budget credibility issues.

In a statement via X on Saturday, Peter Obi described the move as a blatant disregard for fiscal responsibility, transparency, and accountability.

According to the former Governor of Anambra state, the action of Tinubu’s government will lead to frivolous items in the approved budgets competing with essential projects for limited resources, further exacerbating the suffering of the Nigerian people.

Reacting to the development, Senior Special Assistant to the President on Media and Publicity, Temitope Ajayi, in a statement via X, said the Federal Government is not planning to run four budgets within a fiscal year, as alleged.

Ajayi also slammed Peter Obi for jumping on the unverified report from BudgiT to spread misinformation.

The statement read, “Yesterday, @BudgITng raised a false alarm on the basis of rumours that FG is planning a 2024 supplementary budget. It is important to state that the FG is not planning to run 4 budgets within a fiscal year, as being alleged.

“The National Assembly only approved that implementation of the capital components of the 2023 budget and 2023 supplementary should be extended to December 2024 to achieve its objectives.

“Our country can’t achieve sustainable development when Federal, States and Local governments focus on only consumptive expenditures, which is essentially what recurrent expenditures represent.

“It is the capital expenditures that drive economic growth, strengthen private sector output and create employment opportunities for citizens.

“As a reputable civic organisation, Budgit can not afford to be flippant and be unduly sensational. Expectedly, @PeterObi has jumped on the false claims to push his new round of misinformation.”