The Federal Government on Friday declared that President Boal Tinubu-led administration in the face of a growing population and enormous challenges is facing a revenue deficit.
The Federal Government made this known on Friday through the Minister of Budget and National Planning, Atiku Bagudu in Abuja.
According to the Minister, the government is struggling to pay salaries because “there is no money”, urging non-governmental organisations to help the government cover the spaces it could not.
Bagudu bemoaned the rapid growth of Nigeria’s population and added that unemployment is rising in tandem with a high rate of inflation.
Bugudu, represented by Dr Sampson Ebimaro, the Ministry’s Director of International Cooperation said there is no money anywhere in the country; the government is just managing to pay salaries.
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“Government faces enormous challenges especially now; the government is facing a revenue deficit. There is no money anywhere in the country; the government is just managing to pay salaries.
The growth rate is very slow and the population growth is fast pacing and increasing. Unemployment is surging in the midst of high inflation,” the minister said.
Dr Sarah Alade, a former acting governor of the Central Bank of Nigeria, said participation of Non-State Actors (NSAs) is key to the federal government’s target to lift millions of Nigeria out of poverty.
Alade, who was also Special Adviser to ex-President Muhammadu Buhari on Finance and Economy, urged the government to collaborate with NSAs to achieve economic development.