Zainab Ahmed, Nigeria’s Minister of Finance, on Wednesday, blamed the country’s worsening budget deficit on the ongoing conflict in Ukraine.



Ms Ahmed who spoke at an IMF meeting in Washington DC on Wednesday said that the ongoing war in Ukraine triggered the country’s budget deficit to rise to 4.5 per cent of the country’s GDP from an initial 3.5 per cent.

“The war in Ukraine started and it worsened our situation. We have a deficit now that is about 4.5 per cent of GDP, when we started with a deficit of about 3.5 per cent,” the country’s finance minister said.

The minister’s remark comes just a week after the House of Representatives approved N4 trillion in funding for the fuel subsidy in 2022. This represents a N3.557 trillion increase over the N442.72 billion planned previously.

The approvals came in response to President Muhammadu Buhari’s call to parliament to make changes to the fiscal framework for the year 2022.

The president had in a letter to the Senate noted that an adjustment to the fiscal framework for 2022 became necessary due to new events in both the world and domestic economies.

He attributed the changes to rises in the market price of crude oil, which he said were a result of the Russia-Ukraine conflict.

The implication of the increased budget deficit in 2022 is that the government may end up spending less on capital projects and human capital which are critical in spurring economic growth and delivering jobs.

https://gazettengr.com/buhari-regime-blames-ukraine-war-for-nigerias-worsening-budget-deficit/

Nobody is above blame as far as this govt is concerned

Lol. They can never run out of lies, blames and denials. Give them US, UK or UAE, in six months, Bubu and his forty thieves will run those flourishing countries aground and blame everything that comes to their mind.

The most useless and incompetent Minister of Finance since amalgamation of Nigeria. If not quota system, the oliodo isn’t qualified to be a toilet cleaner in US.


Nonsense

Buhari blames Zelensky for Nigeria.....


[img]https:///media/9-14-2014/Zi2fUR.gif[/img]

Pityfa:
Nobody is above blame as far as this govt is concerned

What do you expect?, They are just imitating their leader Biden.

The same way Biden has been busy telling Americans that Putin is the cause of inflation in America is what they brought here.

Useless bunch of irredeemable jokers in govt.

They always pass the buck

They no longer blame GEJ anymore. They've now shifted the blame on Ukrainians


By the time Buhari is done with Nigeria
Una eyes go clear!

BUHARI THE BLAMER
WHEN U CARRY KUNU & FURA DRINKING DULLARDS AS MINISTERS THIS IS WHAT U GET.
BAMBIALA ALL OF THEM

APC and Buhari like blaming everything on this earth.

Take Buhari and his tufiakwa ministers to handle a peaceful and civilized country like Denmark or Sweden, within two weeks, they will convert it to Burundi or Eritrea