Nigeria Struggles with Debt and Fiscal Challenges Amidst Efforts to Boost Women’s Health and Agriculture – IBP
By:Goodluck E. Adubazi
Abuja.
As Nigeria grapples with debt and fiscal challenges, the International Budget Partnership (IBP) Nigeria has launched a new country strategy aimed at transforming public spending to deliver better services for women and marginalized communities.
The strategy, unveiled at an event in Abuja at Abuja Continental Hotels , focuses on promoting tax reform, improving women’s health, and supporting women farmers.
The IBP Nigeria’s Country Manager, Yinka Babalola, emphasized that women are the backbone of local communities, driving agricultural production and informal trade. However, they face barriers in accessing quality public services, including healthcare and agricultural support.
*Key Areas of Focus:*
– *Maternal Primary Healthcare*: Addressing the alarming maternal mortality rate in Nigeria by pushing for better-funded, accessible, and inclusive healthcare services.
– *Tax Reform*: Promoting gender-responsive tax reforms that reduce the burden on women informal workers, ensure fair contributions from others, and increase public revenues to fund essential services.
The IBP Nigeria’s strategy takes a systemic approach to reform, applying a strong gender-responsive lens to address the root causes of Nigeria’s public finance and service delivery challenges. By amplifying the voices of smallholder women farmers, women in the informal economy, and community health advocates, IBP Nigeria aims to ensure historically excluded groups are at the center of public finance decisions.
Nigeria’s fiscal challenges are well-documented, with a debt-to-GDP ratio of 30% and a budget deficit of 4.3% ¹. The country’s reliance on oil revenue has also made it vulnerable to external shocks. To address these challenges, the government must diversify its revenue base, reduce leakages, and promote fiscal consolidation.
The IBP Nigeria’s efforts are a step in the right direction, but more needs to be done to address the country’s fiscal challenges and promote sustainable economic growth.
