‘2022 federal budget is low’ – DG Budget Office
Against the backdrop of the budget breakdown and the soaring state of the country’s debt profile, Nigerians, after the presentation, took to different social platforms to condemn the figures. “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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