Aganga Blames Low Budget Implementation On Distractions

The Minister of Finance, Dr Olusegun Aganga, on Tuesday blamed the low implementation of Federal Government’s budgets in the past three years on distractions.

Aganga, featuring on NTA Network Personality Programme “Economic and Finance” monitored in  Port Harcourt, said that the distractions affected stability in governance during the period.

He said that the country required stability in governance to achieve enhanced level of budget implementation.

Aganga listed some of the distractions to include the death of President Umaru Yar’ Adua, delay in the passage of budgets and cabinet reshuffle.

He said that much might not be achieved in 2011 because of the electioneering campaigns, the elections and the constitution of a new cabinet, all of which, he said, were distractions to governance.

The minister said that the N4.22 trillion federal budget in 2011 represented the beginning of financial consolidation which would also address key issues such as unemployment.

He said that the 2011 budget was lower than the 2010 budget by about 18 per cent while the size of the budget deficit had dropped to 3.6 per cent.