Aderemi OjekunleThe federal government has proposed to borrow over N11 trillion to finance the proposed 2023 budget deficit, a development far above the stipulated threshold in the Fiscal Responsibility Act.
Zainab Ahmed, minister of finance, budget and national planning, said this on Monday while appearing before the house of representatives committee on finance to defend the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper . She said the government’s budget deficit is expected to exceed N12.42 trillion if the federal government keep the petroleum subsidy for the entire 2023 fiscal cycle.
Ahmed added that the two proposals have budget deficits far above the stipulated threshold in the Fiscal Responsibility Act.The fiscal responsibility law provides a limit of 3 percent debt threshold for sustainability but the president can “exceed the ceiling if there is a clear and present threat to national security or sovereignty of Nigeria”.
In 2020, the federal government exceeded the fiscal borrowing threshold, citing the COVID-19 pandemic.
Nigeria is in a mess, we need someone with a track record of managing an economy out of debt, still grew the economy by cutting wastes in government spendings. Without being told, Atiku and Tinubu will pile more debts on us, their lifestyle and precedence confirms this.
woye1 what are your analysis
E remain make Bihari sell Nigeria!
In 6 months time we will kick out this wicked and corrupt regime. Be OBIdient, VOTE PETER OBI!
All these money being borrowed where is it? How many Nigerians have benefitted from it?
Fire Ian the mountain!!! 🤣😂
Jesus Christ.. Which can evil party and govt is this How can you borrow 11Trillion naira when you are already swimming in debts Apc is cursed.
E don happen. Where are those APC e-rats?
Some educated people won’t face this matter. It’s only nonsense they will tweet. This here is even a bigger problem for the next Generation 🤦🏾🤦🏾🤦🏾
I vant ta pinish Nanjeriya kpatakpatakpataa!!'😂
why not resign sir?
15t is a safer figure.
They shouldn't be allowed to take anything again, they should manage and steal the ones they have now and leave everything for the next government before they destroy this country please.
franklinfoe1 Na the next president I dey pity because to restructure and to repay back all the loan dem don take, go last for more years... make Buhari never happen to anybody
Imagine wetin dey run tru his mind walai una cup don full eni kure...
These people want to milk this country dry before leaving office
Omolomo, zero thinking.
Now dem go rest na!!! Nonsense APC government.
abduldanja87
The only buhari know how to do is borrow
Vote Peter Obi o... You've been warned.
The worse government so far!
They re-loot recovered loots then steal borrowed funds , what a people what a party and these are the ones sone people can unabashedly campaign for no be juju be that
😂😂😂😂
MBuhari pity us na.
I hope the presidential candidates know the amount of mess they will be inheriting. Nobody should come and start trading blames or making excuses. You know how bad the Buhari administration has performed so don’t come and tell us stories tomorrow
Know this and know peace,APC is not an option in 2023. Vote wisely for your present and future
ode president wey no sabi anything..
They just need to raise the debt ceiling, no problem with that.
BAT...all the way...you can cry more...2023 💯 for BAT...
For installing Buhari, Tinubu and Atiku do not deserve to be president. Very wicked old men.
Can’t this man just step aside!
Nigeria....going.....going.......going....... SOLD!
Those are positive debt,we cannot develop without dollar loans since dollar is needed for economic development as mandated by the western world
Kaycey24 I'm tired of this government, just imagine the amount of debt Peter Obi will have to pay when he becomes president. What kind of wickedness is this?
Tinubu will continue with the economy policies of Buhari
Sai Baba! We must build this infrastructure wether the wailers like it or not! Borrow till infinity, we are solidly behind you! 🙌
OfficialAPCNg MBuhari Abeg make una mercy for us naa. officialABAT And atiku help us beg person wey una help win Election to mercy on our future. He should cut the cost of governance and stop overinflation of projects, then we will have enough money. Abeg na
Shey na who go pay this money sef
Weldon sir ! Please make it 500tri so that we can end this country ones and for all ... Lol
APC You Guys Should Quietly Sell This Country. And Some People Still Wants To Vote for APC
Mehnnnn! I've totally forgotten that Buhari is still President sef... Sigh!
Jesus!😪
With the ever increasing evidence of their incompetence and humongous failure, on what basis is the apc campaigning to Nigerians for 2023?
What exactly is going on?
Federal government of borrowers
He should just take some of us to China as collateral
DeeOneAyekooto fkeyamo come and see una government
If not 4 any other reason, here is a genuine reason 4 a radical protest by all patriotic 🇳🇬's 2 shut down d country. Dis loan shouldn't be allowed. Dis Gov wants 2 cash out before it's tenure ends & it's ridiculous how NLC & opposition parties are quite. Almost 30bln dollars 💔
Do I still need to convince you that this government is not for us?
And some fools are campaigning for someone that wants to continue from where Buhari stops. God forbid
She (The Finance Minister) said: “the government’s budget deficit is expected to exceed N12.42 trillion if the federal government keep the petroleum subsidy for the entire 2023 fiscal cycle”.
Under this Government we have Permanent Secretaries that FORBID Auditors from inspecting projects while they dole out payments. See ehn, so many 'spiritual only' projects full ground Let's just ensure BAT no enter Aso Rock The Revelations will rock this country.
Final lap of looting treasury before the plagues depart Aso rock
I don't envy BAT because he won't get it and I don't envy Peter Obi because he has a lot of cleanup to do when he gets there.
They are out of their depth.
Lazy thinkers!!! No sense of shame and responsibility.
And person want to continue
APC is a curse
JUST IN: FG to exceed borrowing limit in 2023 budget — may take up to N11trn for elections. I fixed it for you.
Wahala everywhere. Trust rubber stamp legislators to approve it
APC is the worst government in the history of Nigeria. All the money they borrowed is not showing in the economy of Nigeria.
This want to sell Nigeria completely
E nor go better for all of una wey they this government o. And those wey wan vote for APC.
That’s what happened to a Country when she plunder her major sources of National income in the name of crude oil theft.
Those of who still want to vote for APC and Thiefnubu, e no go better for una family and generation
Buhari zombies will still defend this