Tag: Deficit
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2023 budget: Senate vows to reduce N11.03 trillion deficit
The N11.03 trillion deficit proposed in the N19.76 trillion 2023 budget as indicated in the 2023-2025 MTEF and FSP would be tackled by the National Assembly via necessary amendments of relevant provisions of the Finance Act.
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Senate to reduce 6trn proposed import waiver by 50%
The Senate will reduce the import duties waivers proposed for the N19.76trillion 2023 budget with attendant deficit of N12.4trillion. The Chairman, Senate Committee on Finance, Sen. Solomon Adeola made this known in Abuja on Tuesday, at an interactive session on the says it will reduce the N6 trillion proposed as import waiver for companies in…
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2022 Budget: We’ll borrow more to fund N6tn deficit – FG
The Federal Government on Wednesday announced plans to finance the proposed 2022 budget deficit pegged at N6.258 trillion through fresh borrowings. Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this during a press conference after the Federal Executive Council (FEC) meeting in Abuja, adding that this will aid the funding of the Federal…
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MTEF: FG To Borrow N5.62trn To Finance Deficit In 2022 Budget
…Capital Expenditure Reduced By N259.315bn In 2022 … Exchange Rate Pegged At N410:15/$1US By Emman Ovuakporie The Federal Government has submitted a proposal to borrow the sum of N5.62 trillion to finance budget deficits in the 2022 financial year. The FG also disclosed that it will be cutting down capital expenditure in 2022 by N259.315…
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Nigeria needs N10trn infrastructure bond to curb deficit – Fashola
The Minister of Power, Works and Housing, Mr Babatunde Fashola, has said that N10 trillion infrastructural bond was needed to meet up with infrastructural deficit and advance the course of Nigeria’s development. Fashola made this known on Monday in Abuja at a meeting with members of the House of Representatives Committee on Works to defend…
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How we spent N3.57tn borrowed to finance budget deficit – FG
The Federal Government on Tuesday explained how it borrowed and spent N3.57tn between June 2015 and March 2017 to finance budget deficits. Explaining how the borrowings (domestic and foreign) were acquired and spent, the Debt Management Office, DMO, in a response to an inquiry placed by The Punch on how loans acquired by the government…
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We’ll bridge infrastructure deficit through PPP – FG
The Minister of Finance, Mrs Kemi Adeosun, said the Federal Government would make the Public-Private Partnerships work in spite of its challenges, to bridge the wide infrastructure deficit in the country. Adeosun said this on Tuesday in Abuja at the 10th Africa Finance Corporation Summit, aimed at charting a way for infrastructure financing in Africa.…