Vice President Osinbajo - FG planning zero-based budgeting for 2016

The Federal Government is planning to use a zero-based budgeting format for its 2016 budget planning, according to the Vice President, Prof. Yemi Osinbajo, SAN.

The Vice President said the zero-based budgeting would be carefully coordinated to ensure that it is policy-driven, especially regarding the proposed social intervention policy of the Buhari administration.
Zero-based budgeting is planning according to needs and costs, different from the existing Envelope Budgeting or traditionally incremental budgeting whereby the planning is based on existing income and expenditure as the deciding factor in national financial planning levels, which often incurs waste and assumes previous costs as constant. theeagleonline