2023 Budget: To borrow don be the main source of funding for Buhari’s budgets
The federal government dey submit N19.49 trillion budget for the year 2023 Budget. Na borrow dem wan borrow more than half of the money.
To fund the budget, the federal government dey plan to borrow N11.03 trillion and make some investments wey be government own to private property so that dem go fit raise the capital.
The government dey plan to generate only N8.5 trillion, out of the N19.47 trillion budget.
Buhari’s administration sef dey plan to put money for the big budget by borrowing N7.4 trillion from the domestic market and N1.8 trillion from foreign entities. To top am, FG dey expect N206.1 billion from the government property wey dem wan turn private to start and N1.7 trillion multilateral project-tied loans.
Dia plan to borrow dey far above the boundary wey dem don approve for the specified fiscal duty. The law give say make shortage no exceed 3% of GDP. But, this plan na 5.01% of the GDP…..READ MORE
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