Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has said Nigeria has the smallest national budget among the world’s 10 most populous countries, despite the country’s population and development needs.
Bagudu made the comment on Monday at the Senate Press Corps Capacity-Building Workshop in Abuja, where he called for a broader conversation on revenue mobilisation and expanding Nigeria’s fiscal space.
He said the country needs to reconsider the size of its national budget and how more resources can be mobilised to fund development.
“I would like to say that out of the top 10 most populous countries in the world, we have the smallest national budget.
“Should we continue with a budget that leaves our populace with one of the smallest budgets, or should we consider how we can mobilise more resources?”
The minister said discussions around the budget should begin by examining what the national budget is and what its appropriate size should be.
He also urged journalists to scrutinise budget provisions and investigate their origin, purpose and beneficiaries before describing them as unlawful insertions.
“We are dealing with human processes and human errors. Therefore, vigilance is necessary, and the media and legislative oversight should remain vigilant,” he said.
Bagudu further called for accountability while urging stakeholders to consider national security and the wider implications of public spending.
He linked the need for greater resource mobilisation to the Tinubu administration’s economic agenda and the ambition to build a $1 trillion economy.
His remarks have sparked reactions online, with some Nigerians questioning how existing public funds have been utilised.
@Ovie Oghenero Frank: Do you mean it’s not enough to steal? Money wey una dey chop 🤣😂
@Omoboladale Waliyat Hassan: Money don finish for where Una they borrow am to add it? 🤷🙄
@Ukachukwu Nnamdi Benjack: The small one you had what did you use it and do
@Prince Micheal: More statement to loot more
@Fabian White: Ahh them wan thief again 🤣🤣😭
@Ebenezer Sunday: They want to run us another street, but we not let that happen comes 2027
@Ehikhamhen Omhenke Sylvanus: Looking for more to loot
@Originally Aboki: Mugu lament
@Yemi Lasisi: How effective and efficient have you lots been with the current budget size?
@Ameed Taiwo: Ok now increase the budget all is ur hand Abi
@Habila Daniels: Hey Ayemiiiii
@Ernest Modestus: Piggy forest!
@Oduche Cj: Rage bait
@Peres Wonaboubo: Na wa. Oh
