The Senate Committee on Finance has expressed dissatisfaction with the projected N12.41 trillion budget deficit contained in the 2023-2025 MTEF/FSP.
Mr Adeola said the committee is alarmed at the proposal to borrow N12.41 trillion to fund the budget. He noted that borrowings cannot continue at the current pace. “Let me place it on record at this point that the Senate Committee on Finance started an investigative hearing on 9th March 2021 on remittances of all revenue generating agencies of government to the Consolidated Revenue for the Federation as well as payment of the 1% Stamp Duty on all contracts executed in all MDAs.
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