The Minister of Budget and Economic Planning, Atiku Bagudu, on Monday said Nigeria has one of the smallest national budgets among the world’s 10 most populous countries, despite its huge population and development needs.
Bagudu, who called for a broader national conversation on revenue mobilisation, said the country must consider how to expand its fiscal space to fund development and achieve its long-term economic aspirations.
He spoke at the Senate Press Corps Capacity-Building Workshop in Abuja, organised with the theme, “Leveraging Legislative Oversight and Media Collaboration to Safeguard the National Budget from Unlawful Insertion.”
He said Nigeria’s budget conversation must begin with a fundamental question: “What is the national budget, and what should it be?”
The minister said Nigeria’s limited fiscal space, relative to its population and development needs, raised questions about whether the country’s current level of public spending was adequate to achieve its development objectives.
He said, “I
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