Economics
Nigeria to Bolster Spending, Sees Budget Gap Stable
- President Buhari presents 13 trillion-naira budget to assembly
- Fiscal deficit seen at 3.6% of GDP in 2021 on GDP rebound
A young woman wearing a hijab carries goods on her head as she walks through Orange Market in Mararaba, Nigeria.
Photographer: KC Nwakalor/BloombergThis article is for subscribers only.
Nigeria’s government unveiled record spending plans for next year as it bets that a swift recovery in Africa’s biggest economy will help keep its budget deficit stable.
President Muhammadu Buhari presented a budget of 13.1 trillion naira ($34 billion), up 21% from this year. The government expects the fiscal deficit to remain steady at about 3.6% of projected gross domestic product.