NGA report by BudgIT reveals that Nigeria's fiscal deficit under the 2026 Appropriation Act has surpassed the legal limit set by the Fiscal Responsibility Act. The report highlights a projected revenue shortfall of N31.45tn, which represents 6.41% of GDP, nearly double the allowed 3% ceiling. It criticizes the government's revenue projections, pointing out that only N10.92tn had been collected by mid-2025 against a target of N36.35tn. The report also notes increasing poverty levels, with the number of Nigerians living in poverty rising from 40 million in 2019 to 56 million in 2023. BudgIT calls for improved investment in economic productivity, social protection programs, and support for SMEs, while criticizing underfunding of health and education sectors.
Bias read (Progressive): The article frames the fiscal deficit as a serious issue requiring urgent attention, emphasizing the government's failure to meet revenue targets and the resulting impact on poverty and public services. While it presents data objectively, the emphasis on systemic failures and calls for reform aligns
