FG, states’ budgets insufficient to address Nigerians’ needs, says Akabueze

0
61

The DG of the Budget Office, Ben Akabueze, has commented on the insufficiency of Nigeria’s budgetary allocations

 Akabueze also said the country has to grow its revenue base to increase its GDP and cater to the citizen’s needs

 The senior government official, however, noted that it is difficult for the nation to improve its revenue at the moment as the economy is currently in a recession

Ben Akabueze, the director-general of the Budget Office, has said the budgets of the federal and state governments are insufficient to address Nigerians’ expectations.

RELATED NEWS:FG increases electricity tariff again

Featuring as a guest on Channels TV on Tuesday, January 5, Akabueze advised the Nigerian government at all levels to adequately address the needs of the people.

The budget expert also stressed the need for more revenue generation so as to improve the nation’s Gross Domestic Product (GDP).

He said:

“Our tax with GDP ratio is about the lowest in the whole world, not even talking about Africa.

“So, our budgets, not just of the federal, but of the sub-national governments are way too small to be able to address our needs in the way that people expect.”

READ ALSO:COVID-19: Paul Psquare confirms he’s down with the virus, gives advice

Akabueze lamented that Nigeria is now in its second recession within five years, saying it is difficult to grow revenues during the period the economy is facing challenges.

Nevertheless, he clarified that Nigeria’s national budget does not equate to the federal government’s budget alone as perceived by most people.

Watch Leakblast TV channel from around the world

Call Us:+234(0)9073726403
Get us on Whatsapp: +234(0)8181166425      
Email Us: editors@leakblast.com

SUPPORT LEAKBLAST JOURNALISM OF INTEGRITY AND CREDIBILITY

Good  journalism costs a lot of money.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble Endeavor.

By contributing to LeakBlast, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Support LeakBlast

LEAVE A REPLY

Please enter your comment!
Please enter your name here