Nigeria needs bigger budget to drive development – Bagudu

Nigeria's Minister of Budget and Economic Planning, Atiku Bagudu, recently highlighted that the country's national budget is one of the smallest among the top 10 most populous nations, despite its large population and development requirements. Addressing the Senate Press Corps Capacity-Building Workshop in Abuja, Bagudu emphasized the need for a comprehensive national conversation on revenue mobilisation and a broader fiscal space to fund development and attain economic aspirations.

He stressed the importance of understanding the national budget's purpose and size relative to the country's needs and questioned whether the current level of public spending is sufficient to achieve development objectives. Bagudu urged journalists to conduct thorough investigations into budget provisions, cautioning against premature conclusions without sufficient context.

He also stressed the constitutional role of the National Assembly in the budget process and encouraged a balanced discussion on budget transparency, particularly regarding sensitive information that could impact national security or strategic interests.