An economist, Prof. Ademola Ariyo of University of Ibadan, has observed that previous administrations abandoned several projects across the country due to lack of poor budgeting and the required cash-backing.
Ariyo made the observation in Ibadan at his valedictory lecture entitled: “Knowledge for Sound Economic Judgment” at the Faculty of the Social Sciences, University of Ibadan.
He said further that lack of sound economic judgment and purposeful budgeting had become a licence to squander national resources among the previous leaders, resulting in the abandonment of public projects.
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He also said that lack of honest estimation of the cost of the projects and lack of the “will” power to fully fund such projects had been worrisome.
Ariyo, therefore, advised President Muhammadu Buhari and state governors across the country to ensure that only persons with requisite knowledge, character or cognate experiences were appointed into very critical public sector positions.
“Available evidence suggests that for over two decades, the number of abandoned projects hover around 400,000”, he said.(NAN)
