The Presidency has acknowledged that Nigeria’s revenue generation remains inadequate to meet the needs of its rapidly growing population and address the country's vast development challenges.
The Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, while speaking to newsmen said the nation’s resources are insufficient to cater to the demands of more than 230 million citizens, particularly in the face of a significant infrastructure deficit.
Bwala’s remarks come just days after President Bola Tinubu, in a nationwide address marking his third year in office, stated that the Nigerian economy was recording notable growth.
While noting that government revenue has increased under the current administration, Bwala stressed that the gains are still far from enough to meet the country’s pressing developmental needs.
“The population is over 230 million, but the resources we have, even with increased revenue, are not enough to match the population and the deficit in terms of infrastructure,” he said.
He explained that, given the scale of the challenges, the benefits of ongoing economic reforms would take time to be felt broadly across the country.
“Growth will have to be slow. It will be slow, steady and consistent. That is what we take pride in,” Bwala stated.