The spending plan named “Budget of Fiscal Consolidation and Transition” will set Nigeria on a historic budget deficit that will tip the...
the Organisation for Economic Co-operation and Development, implies “concrete policies aimed at reducing government deficits and debt accumulation.”
As funding gap is jumping to N10.8 trillion, debt service for next year is to consume N6.3 trillion, surging 70.3 per cent year on year. In the seven months through July, the economy lost as much N4.3 trillion to the crisis, according to an earlier PREMIUM TIMESIt is shutting Nigeria out of an oil boom that has enabled other producers to make capital of galloping prices from limited crude supply spurred by Russia’s war with Ukraine.
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