Kebbi State Governor and Chairman, Progressives Governors’ Forum (PGF), Atiku Bagudu, says Nigeria’s budget must be increased to $300bn or $500bn in order to fix the nation’s challenges in the various sectors.
Bagudu said this in Abuja at the weekend during the public presentation of a book titled; ‘APC’s Litmus Tests: Nigerian Democracy and Politics of Change’, written by the Director-General of the PGF, Salihu Moh. Lukman.
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He said the APC-led government was aware of the fundamental challenges to be addressed.
“When one compares it (Nigerian budget) with the United States, a country with 331 million people, you find that in 2019, the United States federal budget was over $3.5trn and 1% of $3.5trn is $35bn.
“That means our (Nigeria) budget is less than 1% of the United States’ budget and yet, we’re looking after a population that is about 70% of the United States population.
“If one considers the actual distribution of revenue, it even reflects the truth. For example, from January, this year to May, the Federation Allocation Account Committee meetings, there is no month yet, where the equivalent of $2bn has been distributed.
“So, if things go this way, that means $24bn will be distributed by the three tiers of government. This is the central challenge that we need to communicate and President Muhammadu Buhari has shown us the way by discipline, by value for money.
“But our quest includes necessity, expanding our horizon so that we can see how we will move the $35bn federal budget to $300bn or $500bn federal budget because only then, can we meet some of our expectations, some of our aspirations in all sectors.