With the largest budget in Nigerian history, President Muhammadu Buhari of Nigeria has unveiled an ambitious plan to grow his nation’s economy and solve its security issues.
Buhari told MPs during the budget presentation in the nation’s capital, Abuja, that the projected record spending of 20. 5 trillion naira ($47. 3 billion) reflected the “severe difficulties” that Nigeria faces and contains “the major measures necessary to overcome them.”
The budget is the biggest in Nigerian history and is projected to be approved and put into effect in January 2023, representing a 19% increase over this year’s spending by the government.
Security, economic expansion, and budgetary stability are given top priority in the budget.
Given that Nigeria is still dealing with terrorism in the northeast of the country and armed attacks in the northwest and central areas, which have claimed thousands of lives in the last year, Buhari devoted the majority of the budget to defence and internal security.
“I tell you that insecurity, especially robberies and kidnappings, will be greatly reduced by the conclusion of this government’s term,” Bukhari said in response.
To safeguard the legacy of a peaceful, wealthy, and secure nation, we shall step up our efforts.
Following a general election in February, Buhari, who would leave power the following year, stated that “the 2023 budget has been created in the midst of a very challenging global economy.” He stated that Nigeria wants to achieve “greater, more inclusive, diversified and sustainable growth” through the proposed budget.
Author: “AFP.”
The highest budget ever proposed by the president of Nigeria
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