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Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit (13549 Views)

Reps Fume As NAGGW Spends N81bn To Plant 21m Trees In North / FG Borrows N2.45 Trillion From CBN Amid Fiscal Risks / FG Borrows N6.16tn From Worker's N8.499tn Pension Fund (2) (3) (4)

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Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by lalajnr(m): 6:02pm On Aug 19, 2021
Chairman, House Committee on Finance, James Faleke, made this known at the ongoing public hearing on the 2022/2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (FSP) on Thursday in Abuja.

“We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used.

“For God sake, let us build this country together for the sake of all of us,’’ he said.

Faleke said that the major problem facing the country was revenue generation, adding that the House of Reps would be more interested in how much government agencies could save.

He said that if the House of Reps discovered that any of the government agencies’ capital projects were unnecessary, they would be removed in a bid to get revenue for the country.


The committee also directed the Nigeria Communication Commission to provide the turnover of amount realised from all network operators from 2018 to 2020.

Faleke said that this would enable the committee to look at their records and be able to determine if the revenue proposal for 2022 to 2024 would be good for the country.

Some of the agencies invited for the 2022 to 2024 MTEF and FSP public hearing are Nigeria Port Authority, Nigeria Communication Commission, Nigeria Copyright Commission, Nigeria Investment Promotion Commission.

Others are Nigeria Metrology Agency, Nigeria Postal Service, Federal Road Safety Corps, Nigeria Export Promotion Council, Nigeria Communication Satellite Ltd. among others.

Mr Emeka Iseogwu, the General Manager, Finance, who represented the Director-General of NPA, said that the agency was on course in terms of revenue generation.

He said that NPA was targeting N338 billion for revenue in 2022.
https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by joe54: 7:18pm On Aug 19, 2021
Buhari is economically bankrupt

120 Likes 13 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by iluvdonjazzy: 9:00pm On Aug 19, 2021
I don't understand this kind of borrowing, are you saying we don't have revenue again to take care of this country that we have to borrow this much. When we have NNPC, CUSTOMS, NPA, NCC, FRSC, AGRICULTURE, etc. Hmmm LORD have mercy on Nigeria.

98 Likes 9 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Perfectnumber6(m): 9:51pm On Aug 19, 2021
Nigeria= useless

29 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Maxymilliano(m): 10:02pm On Aug 19, 2021
The only language Buhari understand is to borrow, and the fuming as indicated in the topic by the House of Representatives is a sign of approval ...

54 Likes 3 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Racoon(m): 10:15pm On Aug 19, 2021
Hope they know they're not being called rubberstamp for nothing? Guess it is this same HOR part of the NASS that have been approving previous senseless loans for the same president?

16 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Kawea: 10:22pm On Aug 19, 2021
cheesy
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Suspect33(m): 10:22pm On Aug 19, 2021
When Buhari is done with this Nation, we'll be looking for visa to go to Kabul, Afghanistan

The damage this regime has done will take a whole generation to be repaired

89 Likes 6 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by mayorjosh(m): 10:22pm On Aug 19, 2021
A government of idiots

Basic economics just to sustain a nation, they can’t. They won’t even account for one tangible project with all the money being spent. If it’s to buy Prado or Hilux now, their preek will stand for that one.

53 Likes 1 Share

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by RPirez: 10:23pm On Aug 19, 2021
tongue
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by RPirez: 10:23pm On Aug 19, 2021
Xscape047:
Dou know

In Hawaii, you can experience sunny beaches and snowy mountains on the same island

Of course... not only in Hawaii... All peaks within the death zone territory tends to have cooler tops with ice sheet.

Kilimanjaro etc...

8 Likes 1 Share

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Terrence99: 10:23pm On Aug 19, 2021
Femi is Buhari's houseboy, Lawan is less than a servant.

17 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by LOVEGINO(m): 10:24pm On Aug 19, 2021
poor man don suffer

1 Like

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by chiedu7: 10:25pm On Aug 19, 2021
Why are we borrowing money when we are sending money to Niger Republic?

7 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Terrence99: 10:25pm On Aug 19, 2021
The North should be banned from holding leadership positions in Nigeria, at least for 50 years. Let us undo the damage Buhari and his fellow Northerners have done in 8 years.

70 Likes 5 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Freddykrueger: 10:25pm On Aug 19, 2021
Quota system president. No brain, just foolishness.

32 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by rapheal5(m): 10:25pm On Aug 19, 2021
I personally hate people that brings God into nigeria matter, especially people that keep saying pray for nigeria...Well God is to busy to answer our prayer cuz HE already gave us everything we need in this stupid country....

16 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Akwamkpuruamu: 10:26pm On Aug 19, 2021
Dem never do 2021 budget borrowing finish, na 2022 them don plan ahead to borrow.

Buhari taking bambiala and almajiri to international level and breaking every borrowing limits ever known in the world

10 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Brushstrokes20: 10:26pm On Aug 19, 2021
The redundant coupist is hell bent on sinking the shithole! undecided

The doomed herder is Nigeria's worst blunder undecided

15 Likes 2 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Peterolus(m): 10:26pm On Aug 19, 2021
A big political strategy.
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Caramia2020(m): 10:26pm On Aug 19, 2021
It's well, borrowing yet our vat on monthly basis would av been enough bcoz almost every adult pay tax in one way or the other.

2 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by ogododo: 10:27pm On Aug 19, 2021
lalajnr:

https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

Dem go soon borrow with Aso Rock as collectral.

1 Like

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Abujaexpress: 10:28pm On Aug 19, 2021
Xscape047:
Dou know

In Hawaii, you can experience sunny beaches and snowy mountains on the same island
O oga, are you aware that this your question deserves a question mark?
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Drsnives(m): 10:30pm On Aug 19, 2021
Ok
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by samwillyco1(m): 10:30pm On Aug 19, 2021
Borrow and loot Government
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by micflo28(m): 10:30pm On Aug 19, 2021
Buhari is a scientific experiment to understudy how much pain a nation can withstand but he is going beyond the scale.

8 Likes

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Yves4real(f): 10:30pm On Aug 19, 2021
lalajnr:


“We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used.

https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

The finance minister said that the money is needed to fund the budget.
Some persons have argued that the low oil price is affecting the economy. During GEJ, oil sold for over $100 but in Buhari's tenure, oil is low bla bla and he needs to borrow so as to provide infrastructure.
I agree that the price of crude oil was high during the last administration. However, the present administration introduced more taxes to help generate funds. As an individual, I know how much leave my savings' accounts monthly in the name of stamp duty and taxes on transactions. I pay SMS tax and other ridiculous taxes and these weren't in place during the last administration.
With all these funds generated from individuals and organisations, why does the government still borrow that much to fund budget?
Before you ask what can #50 stamp duty do, imagine #50 been deducted from the accounts of fifty million people. There are days I am charged more than #300 a day depending on sales or other reason (s) for a credit transactions. Same with millions of account holders out there.
We learnt that customs office is generating over a trillion Naira yearly. What is the money used for?
The government can't even account for these money. It keeps borrowing thereby, creating financial problems for successive governments.
The corruption in this administration is so massive.

25 Likes 2 Shares

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by nenyeRitta(f): 10:31pm On Aug 19, 2021
This same government that budgeted almost 700million for dogs. What an unprecedented level of corruption.

1 Like

Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by 22ndMayor: 10:31pm On Aug 19, 2021
God abeg
Re: Reps Fume As FG Borrows ₦5.62 Trillion To Fund 2022 Budget Deficit by Grace001: 10:31pm On Aug 19, 2021
For God sake, let us build this country together for the sake of all of us,’’ he said

Interesting, so you people know you aren’t building this country before. It’s God that will punish all of you.

By the time Buhari is done with Nigeria, Benin republic will be like paradise to Nigerians.

5 Likes

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