Nigeria, Africa’s most populous nation, has allocated $32 billion to its 2024 national budget, catering to an estimated population of 233 million. This results in a budget per capita of just $137, highlighting a stark contrast with its African counterparts, Kenya and South Africa.
Kenya, with a population of 56 million, unveiled a $30 billion budget for 2024. This translates to a budget per capita of $536—nearly four times that of Nigeria. Meanwhile, South Africa allocated $130 billion for its 64 million citizens, achieving a budget per capita of $2,031, a figure significantly higher than both Nigeria and Kenya.
The disparity in budget per capita raises critical questions about resource allocation and economic priorities in the respective countries. While South Africa and Kenya appear to have higher per capita funding to address developmental needs, Nigeria’s relatively low figure underscores the challenges of balancing its growing population with available financial resources.
These statistics, compiled by Statisense, provide a snapshot of fiscal planning across Africa’s leading economies, emphasizing the need for innovative approaches to budgeting and sustainable growth.
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