A cartoonist has tried to explain the recent brouhaha between House of Reps speaker Yakubu Dogara and former Chairman of the House of Representatives’ Committee on Appropriation, Mr. Abdulmumin Jibrin who accused the former of padding the 2016 budget.
Understanding padding Padding the budget means making the budget proposal larger than the actual estimates for the project. This is done either by increasing a project's expenses or decreasing its expected revenue. The goal of budget padding is to get an approval committee to grant an artificially high level of funding to the budget maker's proposed project. There is some contention over the exact definition of padding: some contend that inflating expenses to take expected inflation into account is responsible foresight rather than padding, while others see any increase beyond current estimates as padding. Padding the budget is a practice that some people use in business when submitting a budget for approval. It artificially inflates the proposed budget in order to give the project room to expand or to cover unexpected costs. Many see budget padding as unethical, but its practitioners defend it on the grounds of practicality. In Nigeria, those who pad the budget use it to allocate huge sums to themselves in the name of constituency projects which they later pocket without executing such projects.
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Posted: at 3-08-2016 10:22 AM (8 years ago) | Addicted Hero
EDDYPRINCE at 3-08-2016 11:19 AM (8 years ago) (m)
STABILIZE THE ECONOMY AND FORGET THIS BUDGET PADDING OR NO PADDING.... WETIN CONCERN COMMON MAN AND PADDING... MAYBE HE NOR FAVOUR YOU,, THATS WHY U ARE SHOUTING OUT... CRIMINALS
Posted: at 3-08-2016 11:19 AM (8 years ago) | Addicted Hero
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