The federal government's budgeting process in Nigeria has drawn significant criticism from both domestic private sector stakeholders and international financial authorities. The International Monetary Fund (IMF) recently highlighted these concerns in its report, "Budget Credibility in Sub-Saharan Africa," which points out Nigeria's frequent deviations from approved fiscal plans. The report notes that the country has consistently exceeded budget deficits and current expenditure limits, while also facing challenges with the abandonment or delay of capital projects. This situation underscores the need for greater transparency and accountability in Nigeria's budgeting practices.
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