Nigeria’s Minister of Budget and National Planning, Atiku Bagudu, says the country needs at least 100 billion dollars in investment each year to achieve its target of becoming a middle-income economy by 2050. He was speaking in Abuja at a policy dialogue organised by the National Institute for Legislative and Democratic Studies.
The minister explained that Agenda 2050, structured in six medium-term plans, provides a pathway to growth. He said reforms under President Bola Tinubu’s administration have raised Nigeria’s revenue-to-GDP ratio from 9 percent in 2023 to 16 percent, but the country still lags behind peers like Brazil and Japan.
Also Read: D’Tigress Overpower Rwanda To Reach Fourth Successive AfroBasket Final
A Labour Party lawmaker, Afam Ogene, said government secrecy fuels corruption and urged transparency in communicating economic realities. He criticised delays in the implementation of the 2024 budget and highlighted growing protests by contractors over unpaid arrears.
The Director-General of NILDS, Abubakar Sulaiman, represented by Shauibu Danwanka, stressed the need for stronger legislative-executive alignment to address inflation, debt servicing, and weak growth.
Leave feedback about this
You must be logged in to post a comment.