“There’s No Money”: We’re Struggling To Pay Salaries, Tinubu’s Minister Cries Out
- The federal government has cried out for help following the revenue deficit and high inflation rate in the country
- The minister of budget and national planning, Atiku Bagudu, said there was no money anywhere as the growth rate was very slow
- Bagudu lamented the challenges the FG was facing from the growing population and the surging rate of unemployment
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FCT, Abuja - The minister of budget and national planning, Atiku Bagudu, said the federal government is struggling to pay salaries because “there is no money”.
Bagudu said the government is facing enormous challenges and revenue deficit amid a growing population, Daily Trust reported.
Source: Twitter
The minister stated this while speaking in Abuja on Friday, October 20.
As reported by New Telegraph, Bagudu, represented by the ministry’s Director of International Cooperation, Dr. Sampson Ebimaro, said that unemployment is surging amid the high inflation rate in the country.
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He called on non-governmental organisations to help the government to cover the spaces it could not.
“Government faces enormous challenges especially now; the government is facing a revenue deficit. There is no money anywhere in the country; the government is just managing to pay salaries.
“The growth rate is very slow and the population growth is fast pacing and increasing. Unemployment is surging in the midst of high inflation.”
Tinubu running an ‘animal farm’ economy, says Atiku
Meanwhile, Legit.ng reported that Phrank Shaibu, the former Vice President Atiku Abubakar's special assistant on public communication, criticised the Bola Tinubu administration, citing the latest inflation figures of 26.72% and a food inflation rate of 30.6%.
Shaibu, in a statement made available to Legit.ng on Tuesday, October 17, attributed these high inflation rates to what he described as incompetence and a lack of direction within the Tinubu government.
Shaibu pointed to several critical policy decisions contributing to rising inflation.
Naira loses more value as Inflation soars to 26.72%
The National Bureau of Statistics has revealed that Nigeria's headline inflation rate, which measures the cost of goods and services over a period of time, rose to 26.72% in September 2023.
This represents a 5.94% point higher than the inflation rate recorded in September 2022, which was 20.77%.
On a month-on-month basis, the headline inflation rate in September 2023 was 2.10%, which was 1.08% lower than the rate recorded in August 2023 (3.18%).
Source: Legit.ng
