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Nairaland Forum / Nairaland / General / Politics / Budget 2023: The Planned Borrowing Of N11 Trillion (237 Views)
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Budget 2023: The Planned Borrowing Of N11 Trillion by Racoon(m): 8:49am On Sep 29, 2022 |
The rigmarole in the management of the country’s public finance since 2015 came to its climax with the recent announcement by the Federal Minister of Finance, Zainab Ahmed, that government plans to borrow a whopping N11.3 trillion to finance the 2023 federal budget.https://guardian.ng/opinion/budget-2023-the-planned-borrowing-of-n11-trillion/?utm_term=Autofeed&echobox=twitter_post&utm_medium=Social&utm_source=Twitter#Echobox=1664339098
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Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Corridon: 8:52am On Sep 29, 2022 |
Buhari has totally destroyed Nigeria. Incoming president Peter Obi have a lot of work to do so as to make Nigeria work again. |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Nobody: 8:52am On Sep 29, 2022 |
For real |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Racoon(m): 8:52am On Sep 29, 2022 |
Failure to appoint competent ministers early in 2015 contributed in no small measure to this cascade of unending economic downturn. Buhari used the constrictive Tinubu’s economic template and here we are today. Embarking on an impulsive senseless borrowing spree to fund unfeasible projects(railway to Niger Republic, Abuja-Kaduna rail). Oil theft persists because the government is part of the thievery. All parts of our national life are all bleeding because of incompetent persons manning them. |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Racoon(m): 8:53am On Sep 29, 2022 |
Ahmed’s disturbing declaration emerged when she appeared before the House of Representatives Committee on Finance in Abuja to defend the 2023-2025 Medium Term Expenditure Framework (MTEF). A budget deficit of N11.3 trillion is far higher than the projected revenue of N8.46 trillion for the entire year. By virtue of this, total government expenditure was estimated at N19.76 trillion while total revenue is N8.46 trillion. It should be noted that the Buhari administration has been running budget deficits since it came into power in 2015 with the proportion of deficits to GDP of 4.33 per cent in 2020 and 4.69 per cent in 2021, in the past two budget seasons. All these have consistently been increasing the country’s public debt portfolio to its current unsustainable level. Indeed Nigeria is in a serious fiscal crisis and there appears to be a deficit of political will and clear direction on how to exit the great challenge. |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Redoil: 8:59am On Sep 29, 2022 |
APC have seen that they will never smell power again so they start borrowing money that we can never pay back in the next 25 years all these borrowings will surely cause unforeseen trouble for the next incoming president |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by calmness0(f): 9:02am On Sep 29, 2022 |
They are selling your children's future o, it's Time we wake up and flush this set of thieves out. |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Nobody: 9:03am On Sep 29, 2022 |
Okay |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by Maxymilliano(m): 9:22am On Sep 29, 2022 |
It should be noted that the Buhari administration has been running budget deficits since it came into power in 2015I pity who ever will take over from Buhari as president, the economy has not only been bastardized with reckless borrowing, but wrecked in unimaginable debts. |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by omowolewa: 9:24am On Sep 29, 2022 |
Yes o, let's borrow |
Re: Budget 2023: The Planned Borrowing Of N11 Trillion by iwaeda: 9:27am On Sep 29, 2022 |
Racoon: May God never anything APC come near Aso Rock again Mynd44 |
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