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Nigeria’s Spending Structure Unsustainable, Budget Head Says
LAGOS (Capital Markets in Africa) — Nigeria’s current trend of spending more money on running the government than on building new infrastructure is unsustainable, the country’s top budget oversight official said. Low revenue collection and high recurrent costs have resulted in actual capital expenditure below two trillion naira ($4.88 billion) a year for a decade, Ben Akabueze, director-general of the Budget Office, said Tuesday in a virtual presentation. “Hence, the investments required to bridge the infrastructure…
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