Nigeria’s budget only good to pay salary—FG

0 Comment

Speaking at the forum, Minister of Finance, Mrs. Kemi Adeosun, noted that the budget size of the country was not enough to carry all government’s programmes and also pay salaries of workers, stressing that the country had the least budget size in sub-Saharan Africa.

She said:  “Our budget is significantly lower when attached to GDP.  We are currently at six per cent. It is lower than all our peers and that is the lowest in Sub-Sahara Africa and one of the lowest in the world. “Our budget size is too small and that means we can only pay salaries in some cases and we don’t have money to deliver essential services.

‘’There simply isn’t enough money in government to do what government wants to do. I am sure you will say that is because people are stealing or because you are wasting money but I am saying even if you plug all the stealing and all the waste, the budget size is not big enough and that is because we are not paying enough in terms of tax or we are not collecting enough in terms of tax.

GENCOs demand tariff increase “On impact made in the power sector so far: What was the level or history of power production in Nigeria, so many people are talking on review the privatisation of power without knowing where we started from, where are we today. Are we owed money or are we not owed money?

“These monies, some of it belong to the banks, some of it belong to us, where are we today?  That is why we cannot discuss with the Acting President here in this assembly,we asked for a private meeting where serious decision could be taken and whether government likes it or not, it has to review the tariff of power in this country.’’