I've spent a lot of time trying to make sense of Nigeria's fiscal position and yes, it is a mess. Part of the discrepancy is likely from the difference between the FGN deficit and the consolidated deficit, which includes state and local governments.
Of course, even if you stick to trying to parse the FGN numbers, you will run into conflicting data. My pet theory is the FGN kept its accounting flexible so it could move various financing items below the line when it still held itself to the 3% of GDP deficit ceiling.
Out: Vibe-coding
In: Vibescountancy.
We are so back!
Nigeria can't seem to accurately count or measure anything. Can't count people, can't count money, nothing.
Thanks for this 💜, for opening my eyes, made sure to download all documents, it's just a pity how it's not accurate
Lovely read! Lets hope that the variance in all 3 sources starts to narrow by this time next year.
What novels are you reading at the moment?
I just finished How To Get Filthy Rich in Rising Asia (Mohsin Hamid). Fascinating and very unusual novel.
Katy Perry once asked: so, you wanna play with magic?. I said, yes.
Yes to "the variance in all 3 sources starts to narrow by this time next year."
When it does, I'll call Elsa and her sister to come help us build a snowman in the summer.
I've spent a lot of time trying to make sense of Nigeria's fiscal position and yes, it is a mess. Part of the discrepancy is likely from the difference between the FGN deficit and the consolidated deficit, which includes state and local governments.
Of course, even if you stick to trying to parse the FGN numbers, you will run into conflicting data. My pet theory is the FGN kept its accounting flexible so it could move various financing items below the line when it still held itself to the 3% of GDP deficit ceiling.
These are actually scary figures 😂thank you for pointing it out!