By Obinna Chima
Nigeria presently lags behind its peers in Africa in terms of public expenditure-to-Gross Domestic Product (GDP) ratio, the Director-General, Budget Office of the Federation, Mr. Ben Akabueze, has said.
Compared with an African average of about 22 per cent, Nigeria’s public expenditure-to-GDP ratio is at 12 per cent, he added.
Akabueze, in a presentation titled: “Key Objectives and Expected Impact of the FGN 2021 Budget,” he delivered at KPMG’s Tax Breakfast seminar, a copy of which was obtained by THISDAY, yesterday, said the size of the federal, states and local governments’ budgets relative to the needs of the three tiers of government were too small, compared with their levels of expenditures.
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