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Ukraine war cause of Nigeria’s worsening deficit budget – FG
Nigeria’s Minister of Finance, Zainab Ahmed has blamed the country’s worsening budget deficit on the ongoing conflict in Ukraine.
Ahmed made this known at an IMF meeting in Washington DC on Wednesday, she 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.
You would recall that the House of Representatives only just recently 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.
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