Size of the economy is $121.35b
2019 budget is $31.4b (25.9% of GDP)
Population is 36.5m which is a fifth of Nigeria's but their budget is larger than Nigeria's.
VAT in Morocco is 20%
Size of the economy is $99.25b
2019 budget is $27.1b (27.3% of GDP)
Population is 52.6m which is a quarter of Nigeria's but their budget is larger than Nigeria's budget.
VAT in Kenya is 16%
Size of the economy is $92.19b
2019 budget is $22.5b (24.4% of GDP)
Population is 31.8m which is one sixth of Nigeria's population but their budget is almost the same as that of Nigeria.
VAT in Angola is 14%
GDP is $90.97b
2019 budget is $13.1b (14.4% of GDP)
Population is 112m
VAT in Ethiopia is 15%
Ethiopia has borrowed so much in recent years and that has also influenced their growth. Their debt to GDP ratio is very high.
Size of the economy is $68.26b
2019 budget is $13.6b (19.9% of GDP)
Population is 30.4m
VAT in Ghana is 12.5%. It was reduced from 15%. Nigeria will need 4 times the size of her budget to do what Ghana is doing in her economy.
GDP is $61.03b
2019 budget is $14.4b (23.6% of GDP)
Population is 58m
VAT is 18%.
Don't be surprised when you see these countries completing a lot of projects. They have some good funds to power their economy.
Our case is like an anaemic patient who urgently needs blood for survival. The longer he stays without blood, the more dangerous
2.We can raise our VAT which is the lowest in Africa
3.We can sell some of our assets to raise funds: our airports can be given to investors to manage.
4.Subsidy needs to go
How do we get this?
This is the big question for our leaders.