After going through severe scrutiny, re-editing and was finally released, the Nigerian 2016 budget has now been tagged a ‘Padded Budget.’
Wondering what that means? Read on! Since the introduction of the word ‘ Padded Budget’ into the Nigerian economy, a lot of things have been said about the term, but not the meaning.
Different memes have also been done for fun on social media, yet, not every Nigerian understands what the economists are saying about the padded budget.
It seems like the members of the National assembly are planning a conspiracy to confuse Nigerians by introducing but not explaining the term that ordinary men cannot assimilate.
Padded Budget – what does it mean?
In the Second Republic, a team was sought to create a viable budget system for Nigeria – from Rutgers University in New Jersey to the University of Pittsburg, Pennsylvania, however, budget-padding was nowhere mentioned in any of the books and materials relevant to the budgetary process. So where did it come from?
No one has been able to say exactly what budget-padding represents. Apparently, this could be one of those terms that cannot be defined but can only be described.
Since understanding is key, let’s break it down in layman’s term – ‘patch patch budget.’ That’s as simple as it can get. In fashion, pads were used to make the shoulder of clothes higher, and that was called ‘shoulder padding.’ Also, in recent past people started padding their cars so that it had added comfort, so came the term ‘padded V-Boot,’ etc.
In recent days ladies do lots of padding, from their menstrual pads to breast pads and butt pads. Do you now get the picture? Patch patch things!
The Nigerian budget was padded simply by adding a lot of external things to make it look better and more attractive to the masses.
Understood or not, we will keep searching for the most appropriate meaning of ‘padded budget’ in the context in which the Nigerian government has introduced it into the nation’s economy. In the main time, we hope that padding the budget will bring a successful result this time around and the so-called change overly due for actualization.