Carry Go (2.8mb)
This report analyzes the 2008 budgets of Rivers, Akwa Ibom, Bayelsa, and Delta states, which were formulated at a time of rising crude oil prices, during which the states’ receipts from the Federation Account actually rose to unprecedented levels. It cites the inability of the national government to properly apply these revenues to economic development as a failure which tended to hurt the capacity of the states to deliver budgeted programmes towards the end of the year, when dwindling oil prices set in and some austerity measures were introduced by the federal government. The report concludes that addressing the problem of mismanagement of public resources would involve major restructuring of the governance systems, including major electoral reforms that aim at restoring suffrage to the citizens. The restructuring of local governance and introduction of major electoral reforms would help communities and citizens to assert their rights and ensure the utilization of revenues from oil and gas exploitation for the benefit of communities.
