LGs should justify month-to-month allocations by growth – Bagudu

The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has urged native governments to justify their month-to-month allocations from the Federation Account by utilizing the funds to drive growth of their communities.

He spoke on Thursday in Abuja on the ninth annual nationwide convention of the Association of Local Government Vice Chairmen of Nigeria, ALGOVC.

The minister stated native governments ought to function centres for figuring out and creating the financial potential of their communities somewhat than merely distributing funds obtained from the Federation Account.

“Local government is not just an administrative centre that should disburse money coming from the Federation Account. That is a big error that we have been making in the past,” he stated.

Bagudu defined that councils ought to establish the assets and alternatives accessible of their areas and supply the required assist to show them into sources of financial development.

He stated the Federal Government was adopting a bottom-up growth method by the Renewed Hope Ward Development Plan, which is designed to establish native assets, funding alternatives and growth wants.

The minister urged councillors to establish the financial potential of their respective wards.

“Properly identifying the resources available in each ward will help councils attract investors and develop practical plans, while also enabling them to present their challenges and make evidence-based requests to the Federal Government and development partners,” he stated.