The Director-General of the Budget Office of the Federation, Ben Akabueze, has said that in the last four years, the projections of the International Monetary Fund (IMF) on the Nigerian economy have been flawed.
Akabueze said this of the agency’s projections while speaking to journalists on Wednesday.
He said that the IMF’s projections “do not represent the holy grail on economic growth”, while noting that the organisation “can’t get it right better than the people who have direct responsibility for managing their individual economies”.
Akabueze said the growth rate projected by the Tinubu government in its maiden budget “doesn’t even yet reflect the ambition of the government”, adding that the administration “wants to double the GDP before the end of the first term”.
He, according to Vanguard, said the 2024 budget estimates awaiting approval at the National Assembly was “way too small” to Nigeria’s need but the government had to cut its coat according to its cloth.
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