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Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings (15482 Views)

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Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by ogododo: 3:13pm On Apr 07, 2022
President Muhammadu Buhari has written to the House of Representatives seeking an increase in the 2022 budget deficit to be financed through borrowing from the domestic market.

Buhari said this in a letter read by Speaker Femi Gbajabiamila during plenary on Thursday.

The President also requested for the review of the 2022 Medium-Term Expenditure Framework (MTEF) upon which the budget was hinged.

2022 Budget: NACCIMA decries new borrowings; welcomes timely presentationOur debt level still within sustainable limits ― Buhari2022 budget: FG to fund N5.62 trillion deficit with loans

“As you are aware Mr. Speaker, the new development both in the global economy as well as the domestic economy has necessitated the revision of the 2022 fiscal framework on which the 2022 budget was based.

“The total budget deficit is projected to increase from N965.42 billion to N7.35 trillion representing 3.99 percent of the GDP.

“The increment of deficit will be financed by new borrowings from the domestic market.

“Given the urgency of the request for revision of the 2022 fiscal framework and 2022 budget amendment, I seek the corporation of the National Assembly for expeditious action on this request,” he said.

The Speaker thereafter, referred the letter to the House Committee on Finance for further legislative action.


https://www.vanguardngr.com/2022/04/ill-finance-n7-4trn-budget-deficit-with-new-borrowings-buhari-tells-reps/

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Rollsnjaguar(m): 3:16pm On Apr 07, 2022
grin

Buhari will handle Security and Osinbajo will handle economy.

This is the result grin

266 Likes 13 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Kenneth4u205(m): 3:28pm On Apr 07, 2022
This man can borrow. I just pity the next president who will be the one to pay back all this debts. Senate should enact a law forcing president and governors to pay back all borrowed fund before leaving office

111 Likes 8 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by GooodHardDick: 3:48pm On Apr 07, 2022
By the time this man is done with Nigeria, una eyes go clear!!! angry

91 Likes 4 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by SarkinYarki: 3:50pm On Apr 07, 2022
This man borrowed all through 8 years in power

145 Likes 6 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by SarkinYarki: 3:50pm On Apr 07, 2022
GooodHardDick:
By the time this man is done with Nigeria, una eyes go clear!!! angry

Our eye's don clear already sef

54 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by ogododo: 3:52pm On Apr 07, 2022
Bubu dey borrow for the World, borrowing to finance consumables.

13 Likes 2 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by treesun: 3:56pm On Apr 07, 2022
ogododo:
President Muhammadu Buhari has written to the House of Representatives seeking an increase in the 2022 budget deficit to be financed through borrowing from the domestic market.

Buhari said this in a letter read by Speaker Femi Gbajabiamila during plenary on Thursday.

The President also requested for the review of the 2022 Medium-Term Expenditure Framework (MTEF) upon which the budget was hinged.

2022 Budget: NACCIMA decries new borrowings; welcomes timely presentationOur debt level still within sustainable limits ― Buhari2022 budget: FG to fund N5.62 trillion deficit with loans

“As you are aware Mr. Speaker, the new development both in the global economy as well as the domestic economy has necessitated the revision of the 2022 fiscal framework on which the 2022 budget was based.

“The total budget deficit is projected to increase from N965.42 billion to N7.35 trillion representing 3.99 percent of the GDP.

“The increment of deficit will be financed by new borrowings from the domestic market.

“Given the urgency of the request for revision of the 2022 fiscal framework and 2022 budget amendment, I seek the corporation of the National Assembly for expeditious action on this request,” he said.

The Speaker thereafter, referred the letter to the House Committee on Finance for further legislative action.



https://www.vanguardngr.com/2022/04/ill-finance-n7-4trn-budget-deficit-with-new-borrowings-buhari-tells-reps/

Borrow, borrow, borrow and nothing to show for it!
Lalasticlala!

10 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Racoon(m): 4:01pm On Apr 07, 2022
Due to utter cluelessness and lack of economic foresight, this senseless president thinks the solution to any economic problem is the impulsive urge to go borrowing debts here and there.

He can't just look inward to cut the cost of governance
bogus allowances/salaries of the executive or NASS members, stop wastage spendings on unproductive parastalstals (NNPC, refineries, Ajaokuta), merging of unproductive ministries to cut budgetary spending etc. Meanwhile, remember debt serving is equally taking its own economic cost on this nation.

30 Likes 4 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by inoki247: 4:05pm On Apr 07, 2022
lol this man like borrowing up nd down....


From collecting loan to colet presidential Form in 2015 to using everybody head to colet loan afta dat.....

5 Likes 3 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Maxymilliano(m): 4:30pm On Apr 07, 2022
Seems the only language Buhari is well versed and understand perfectly well is to borrow.

His designation should be renamed "Commander in Chief of Borrow borrow.

Bambiala President that is not ashamed to donate $1M to Afghanistan but turn the country to a borrowing nation to fulfill his mission

30 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Think9ja(m): 4:52pm On Apr 07, 2022
Buhari is just like my village people some few years ago.
Once there's a little financial challenge in the family, the solution was to sell their ancestral lands.

Now the lands are finished and the financial challenges just got messier.

Are we going to continue borrowing because we have the lenders? God forbid!

18 Likes 4 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by nairaman66(m): 5:12pm On Apr 07, 2022
Mr borrow borrow!! Stark illiterate, Moronic and evil president bent on destroying and bringing Nigeria to the ground.

It is so ironic how people insulted Goodluck Jonathan because of this disaster Buhari.

Buhari- Badluck, Bastaard, Boko Haram, Bad government, everything bad starts with Buhari.

54 Likes 6 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Sergio104(m): 5:13pm On Apr 07, 2022
grin......bubu no send anybody papa

2 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Conner44: 5:53pm On Apr 07, 2022
Nah wah undecided Nigeria don finally turn ’borrow pose’ country.

Who we never dey owe money? USA oh, China ehh, UK oh, but yet bubu will have the audacity to be donating billions to his jihadist brothers in Afghanistan and Syria to further their cause angry

The railway we are still owing people for has turned into business kiosk for bandits to be cashing out hundreds of millions daily via ransoms

People let’s persevere, the sun will surely rise over us someday soon.

5 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Stevenson20: 5:54pm On Apr 07, 2022
Borrow borrow make me rich. Very pathetic and useless vegetable.

Don't be surprised, before the end of this useless administration, Buhari will borrow money from Chad or Gabon

13 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by princeemmma(m): 5:54pm On Apr 07, 2022
Final looting

End of the term looting

End of the year looting

Goodbye Looting

Byebye Looting

Away from Aso-Rock Looting

Run away Looting

Settle down at home looting

20 Likes 3 Shares

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Analyst7: 5:54pm On Apr 07, 2022
Godddddd this man is so useless now to the extent that words can even say
Imagine such unintelligent solution prescribed

3 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Nobody: 5:54pm On Apr 07, 2022
This guy is a marafacka

4 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by donnam(m): 5:54pm On Apr 07, 2022
I'm a member of RCCG but i must say Leke talks too much and he is very boastful.

3 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Cantonese: 5:55pm On Apr 07, 2022
Chai.

Even with a few months to go the baba still dey borrow.

Which kind life be this with APC? Borrow from China, borrow from UK, borrow from Russia, borrow from Cotonou. Una sure say dem never borrow from Afghanistan so?

3 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Ohislee(m): 5:55pm On Apr 07, 2022
Speaker: Mr Buhari, there is a huge deficit in the 2022 budget. This is caused by the number of borrowing's we have to service. How do you solve this borrowing problem.

Buhari: We have to borrow to cover up for the borrowings we have borrowed. lipsrsealed lipsrsealed lipsrsealed

12 Likes 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Nobody: 5:55pm On Apr 07, 2022
angry
Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by neoclassical: 5:55pm On Apr 07, 2022
Jesu! From 900billion to 7trillion. This is shocking.

1 Like

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by SensualMan1(m): 5:55pm On Apr 07, 2022
Baba D Baba!!! grin grin grin

Baba will handle security

Osinbade will handle economy cheesy

Tinubu will borrow more than Baba!

Sai Barber! Keep barbing their hairs.

1 Like 1 Share

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Moz22: 5:55pm On Apr 07, 2022
Man on a mission to completely ruin Nigeria so it's unable to recover in a hundred years to come

3 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by potbelly(m): 5:55pm On Apr 07, 2022
Just sell the Country and rest..

4 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Mumusaphire: 5:55pm On Apr 07, 2022
Nigeria for sale

5 Likes

Re: Buhari To Reps: I’ll Finance ₦7.4trn Budget Deficit With New Borrowings by Seniorwriter(m): 5:55pm On Apr 07, 2022
SMH
Very incompetent maladministration of the highest order.

We need to vote in young visionary leaders come next year....the revolution is here quote me to know more.
@Seniorwriter

4 Likes 1 Share

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