Bagudu: Nigeria Must Scale Budget Size, Mobilise Resources for $1trn Economy
• Says Brazil’s 2025 budget is at least 25 times the size of Nigeria’s budget • Attributes alleged illegal insertions to human errors during process • Insists National Assembly’s appropriation
Nigeria's Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged the country to significantly increase the size of its national budget to achieve a $1 trillion economy. During a 2026 Capacity-building Workshop of the Senate Press Corps, Bagudu argued that the country's current budget is one of the smallest among the world's most populous nations, which hinders its potential for development.
He called for a more ambitious approach to budgeting, emphasizing that Nigeria must start from the desired outcomes and allocate sufficient resources to achieve them. Bagudu also highlighted the importance of public trust in borrowing and defended the role of the National Assembly in appropriation, emphasizing that budget decisions should be guided by constitutional democracy principles.
He urged the media to encourage a balanced debate on transparency and cautioned against treating every amendment as an irregularity, particularly when it comes to addressing legitimate concerns raised by constituents.
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