Reps fume over N5.62tr borrowing to fund budget deficit | The Guardian Nigeria News - Nigeria and World News

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The House of Representatives has expressed displeasure over the plan to borrow N5.62 trillion to finance deficit in the 2022 budget, while these agencies starve the government of fund.

It criticised some government agencies that conceal their revenues, thereby denying the Federal Government the fund for budgeting.

HOWEVER, the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, said the Federal Government raised N669 billion from the Nigerian capital market through issuance of Sukuk bonds. THE Secretary to the Government of the Federation , Boss Mustapha, and other eminent Nigerians have said that vibrant economic growth begins from an efficient financial market capable of pooling funds from surplus area to deficit, thereby boosting investment inflow and contributing optimally to the economy. Mustapha gave the assurance also at the 2021 CIS workshop held in Lagos.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said the government would continually support the nation’s capital market through policy implementation and legal enactment that will enable the market play its capital formation role.

 

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Federal Republic of Borrowborrow

Mad people na their salary dem want borrow, nothing else, see senate wey appropriate 37 billion for renovation, the building still de leak.

Peg Naira to the dollar for the long term as security to invested funds. We have to provide the needs of the majority locally (education, health, etc.). We only need to import luxury items. The huge market would attract foreign investors if Naira pegged - boost job opportunities

It will end in fuming. They will sign of on it at the end of the day. Don’t they all have interest in it ? Is there no allocation for them? Leave this distraction antics it’s just to make us presume they are working. When we have a proper functional assembly we will all know.

Fume they do because they can, but not if some of that came their way. I do not see them worrying over their pay structure.

Fume where? Fumes that don't pass the leaking ceiling of the NASS building ?

Empty fumes.....people wey dey happy say more funds dey on the way to their pocket, na dem still dey form fuming in public! Once dem reach house na to smile and begin plot how to divert and share. Who is fooling who for 9ja sef?

Bunch of unserious donuts.. You approve spending 30% spending of your oil profits on 'frontier' exploration and now you're concerned about running most of your budget on deficit.

Mtscheeeuw something wey dem go rubber stamp Las las

Still waiting to see smoke from the fumes..or just a baseless fume in order to collect their own share

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