National Wire About Nigerians, Nigerian Business and Other Stories
BudgIT, a Nigerian civic organisation that applies technology for citizen engagement, has expressed concerns over the poor fiscal performance of FG’s 2022 budget and the growing subsidy payments.
To this end, the organization in a statement Sunday, call on all well-meaning Nigerians, CSOs, media, the private sector, the international community, and reformers to join the call for the Federal Government to make adjustments.
According to the statement signed by Iyanu Fatoba Ag Head: Media, Communications and Creatives;
“There is also a pressing concern about the debt service-to-revenue ratio, which has reached alarming levels within the first 4 months of 2022. The country’s current debt service, which stood at N1.94 trillion naira from January – April 2022, is over 100% of the nation’s revenue which was N1.64 trillion naira, within the same period. This is in spite of warnings given by the International Monetary Fund (IMF) that Nigeria would be spending over 100% of its revenue on debt service in 2026”.
