DG Budget Says Nigeria’s Budget For 2022 Is Low
The Director-General, Budget Office of the Federation, Ben Akabueze, has said that the 2022 budget presented to the Joint National Assembly by the President of Nigeria, Muhammadu Buhari is low.
According to PREMIUM TIMES, the Director-General, Budget Office of the Federation, Ben Akabueze, said this on Channel Television.
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PREMIUM TIMES reports that the figure is the highest in the country’s history and over N3 trillion more than this year’s budget and has been condemned by many Nigerians. Information Guide Nigeria
As reported by PREMIUM TIMES, Ben Akabueze stated;
“Well first of all, I think we need to understand that as large as the size of this budget might seem to Nigerians, and as you say it’s the largest so far, the truth of the matter is that our budget is still way lower than it should be. The problem of Nigeria isn’t that, I’m talking about the government now, we’re spending too much money, it’s that we’re actually spending too little.
“If we look at, I mean there’s a global measure for this, you know, which is called a public expenditure to GDP ratio. For Nigeria, the public expenditure to GDP ratio is still in the order of 12 per cent. The average for Africa is 22 per cent, some countries in Africa have about 30 per cent, I mean in the developed countries, the ratio is, you know, typically over 40 percent. And so, you know our budgets.
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