Nigeria’s revenue too small to sustain size of debt, Akabueze warns

Akabueze who spoke on Wednesday during the induction of newly-elected lawmakers of the 10th national assembly in Abuja, said the ratio of the country’s budget to its gross domestic product (GDP), unlike other countries, is less than its needs.

“While the size of the federal government budget for 2023 created some excitement, the aggregate budgets of all governments in the country amount to about N30 trillion. That is less than 15 percent in terms of ratio to GDP, ” Akabueze said.

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