Nigeria’s whirlwind of revenue misfortune, compounded by COVID-19-induced economic strains and rising debt profile, keeps taking toll on its financial status and increasingly downsizing the country’s budget implementation.
For the first quarter of the year, the federal government of Nigeria recorded a budget deficit of N2. 293 trillion, Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said in the First Quarter (Q1) Budget Implementation Report (BIR). (source)
What a nation – and yet nothing is expected to change! It is physics, if you keep doing the same thing, expect the same outcome. Nigeria’s biggest problem is that everyone is a certified victim. The boy in Yobe who is denied access to education is a victim. The boy from Umuahia who rarely makes progress in the public sector because of his name is a victim.
The boy in Lagos who because rich men have no space to build more mansions but are filling lagoons with sands, and pushing his family house out of the way, is a victim. The girl from Uyo who needs to explain that even though she is not part of the Big 3, her family pays the same tax rate and deserves all rights, is a victim. The girl in Kaduna who despite having all military institutions around her is not safe to attend school, is a victim.
So, when everyone is a victim, common sense dies.
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People, the clear sign is that we have no money. But go to Abuja, you will be surprised that everyone thinks that we have tons. They are still opening more bureaucracies when in the real sense we should be streamlining things, cutting waste. For me, I do not think anyone believes that any small effort will change anything because everyone is a victim of Nigeria. And that is a big problem.
Now, who can reverse this trajectory – to make Nigerians become believers?
Nigeria Records N2.293 Trillion Budget Deficit, As Debt Servicing Takes Toll
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