Nigeria failed to record public spending equivalent to about 2% of its Gross Domestic Product (GDP) in recent official budgets, creating a gap between the country’s reported fiscal deficit and its actual financing needs, according to the International Monetary Fund (IMF). The disclosure was made on Wednesday by the IMF Resident Representative in Nigeria, Christian Ebeke, during an engagement with business executives in Lagos. According to the IMF, the omission makes Nigeria’s fiscal deficit appear smaller than the government’s actual borrowing requirement because some public expenditures, particularly capital projects, were executed outside the official budget framework................….......READ MORE