Nigeria has one of smallest budgets — Bagudu

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Bagudu

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…Minister urges media to support Tinubu’s reforms

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By Henry Umoru

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ABUJA — Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has said Nigeria has one of the smallest national budgets among the world’s 10 most populous countries, making it difficult to meet the country’s infrastructure and public-service needs.

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Bagudu, who cited Brazil as a comparable country in terms of population and federal structure, said Nigeria’s relatively limited fiscal space underscored the need for a broader conversation on resource mobilisation and the scale of public investment required to achieve the country’s development aspirations.

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He spoke yesterday at the 2026 Senate Press Corps Capacity-Building Workshop in Abuja, with the theme, “Leveraging Legislative Oversight and Media Collaboration to Safeguard the National Budget from Unlawful Insertion.”

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According to the minister, the key question was whether Nigeria should continue to budget strictly according to its existing resources or develop the confidence and capacity to mobilise more resources to finance development.

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“In trying to think about it, we should have some ideas. I don’t have one definitive answer, but I would say that of the 10 most populous countries in the world, Nigeria has the smallest national budget.

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“That is why, in 2023, our President began to talk about the Renewed Hope Agenda, which is an invitation to Nigerians to appreciate that we are not where we want to be, but we are at a point where we want to be better,” he said.

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Bagudu said Nigeria had historically operated with a low revenue-to-GDP ratio, which had constrained government expenditure relative to the country’s needs.

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He compared Nigeria with Brazil, saying the South American country’s budget was substantially larger despite having a broadly comparable population and a federal structure comprising federal, state and municipal governments.

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“Brazil’s 2025 budget is at least 25 times the size of Nigeria’s budget. So do I expect to achieve the same outcomes as Brazil? Is it that these needs do not exist in Nigeria? I believe they do,” he said.

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The minister linked the issue of resource mobilisation to public confidence, particularly regarding revenue generation and borrowing.

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He said citizens’ understanding and support were important to the ability of the government and National Assembly to take major fiscal decisions.

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Bagudu also stressed the constitutional role of the National Assembly in the budget process, saying the legislature had the final authority over the national budget within Nigeria’s constitutional democracy.

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“The National Assembly is the ultimate authority for a national budget,” he said, urging greater public understanding of the relationship between the Executive and legislature in shaping the budget.

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Budget insertions

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On alleged budget insertions, Bagudu cautioned against assuming that every unfamiliar provision constituted an irregularity, saying the origin, purpose and beneficiaries of individual provisions should be established before conclusions were reached.

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He acknowledged the need for vigilance, however, saying the budget process involved human beings and could therefore be susceptible to errors.

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The minister explained that after the Executive transmitted the budget to the National Assembly, the document was signed page by page by representatives of both chambers before being returned to the Executive.

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He said discrepancies could nevertheless occur despite the process, making legislative and media scrutiny important.

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Bagudu cited provisions that might appear questionable when viewed outside their local context but could address genuine needs in particular communities, including water infrastructure in underserved areas and equipment for fishing communities.

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He stressed that such considerations should not diminish the need for effective oversight.

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The minister also called for a balanced discussion on budget transparency, particularly where disclosure of certain information could have implications for national security or other strategic interests.

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“We are dealing with human processes and human errors. Therefore, vigilance is necessary, and the media and legislative oversight should remain vigilant,” he said.

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Recurrent spending

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Bagudu also challenged the tendency to judge budget performance mainly by capital expenditure, saying recurrent spending also had direct implications for security, education, healthcare and human-capital development.

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He noted that payment of salaries to teachers and other public-sector workers was essential to the delivery of public services, while meeting debt-service obligations was important for maintaining confidence in the economy and avoiding higher borrowing costs.

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He said capital projects remained important but noted that the government was increasingly exploring private investment to finance major infrastructure projects.

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According to him, private-sector participation in major infrastructure projects could also indicate investor confidence in the country’s economic reforms.

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Bagudu urged the media to deepen its engagement with the budget process by promoting informed public discourse, strengthening accountability and helping citizens understand the choices underpinning government policies.

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He said effective scrutiny should go beyond identifying controversial provisions to understanding the constitutional process, rationale for budgetary choices and the development needs those provisions were intended to address.

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The minister urged journalists to investigate budget provisions thoroughly and ask relevant questions before drawing conclusions.

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“Should we continue with a budget that leaves our populace with one of the smallest budgets, or should we consider how we can mobilise more resources?” he asked.

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He linked the discussion to the Tinubu administration’s Renewed Hope Agenda and the country’s long-term development framework, Agenda 2050.

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Bagudu said the ambition to build a $1 trillion economy required Nigerians to confront questions about how the country could mobilise resources and finance development.

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Akpabio cautions journalists

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Earlier, the President of the Senate, Senator Godswill Akpabio, represented by the Chairman of the Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, urged journalists to distinguish between allegations, legislative proposals and established facts.

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Akpabio said the media and Parliament had different responsibilities but shared an obligation to the Nigerian people.

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“I ask for no tame press. We serve the same Republic under different obligations: Parliament must deliberate, legislate and oversee; the press must inquire, verify and report,” he said.

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He warned against allowing sensational claims to overshadow verification, particularly amid the rapid circulation of fabricated documents, images and voices.

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“The old editorial question, ‘How do we know?’ has never been more urgent,” Akpabio said.

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He urged reporters to verify documents against their sources and editors to ensure that all sides were heard when reporting serious allegations.

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The Senate President also cautioned journalists covering parliamentary proceedings against confusing legislative processes with their outcomes.

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“A motion is not a law. A bill at First Reading is not an Act. A committee recommendation is not necessarily the decision of the Senate. An accusation made in debate is not proof of guilt, and a proposed allocation is not money already spent,” he said.

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