Nigeria States Account for 48% of Public Spending

The Federal Government of Nigeria disclosed that states account for 48% of total public expenditure, underscoring the necessity for enhanced coordination among federal, state, and local governments to meet the country's economic development targets. Minister of Budget and Economic Planning, Abubakar Bagudu, emphasized the government's commitment to achieving a $1 trillion economy by 2030, with a focus on sustainable economic growth of 7% annually.

The National Economic Council has identified key policy priorities to accelerate national development, including improving coordination among government tiers and increasing investment security. Newly appointed Minister of State for Budget and Economic Planning, Dr. Dori Uzoka Anit, stressed that 95% of Nigeria's economic development must be driven by the private sector, urging the administration to renew its hope programs to anchor private sector leadership.

Dr. Deborah Odoh, Permanent Secretary of the Ministry, noted the significance of Dr. Anit's insights in strengthening the ministry's leadership team to support the President's agenda.