Economy

Finance Minister Puts 2023 Budget Deficit at 11.30 Trillion Naira

Written by Pyramid FM Kano

By: Ibrahim Shehu, Abuja.

The Minister of finance, Mrs Zainab Ahmed, says the projected budget deficit for 2023 is 11.30 trillion naira

The Minister disclosed this while presenting the 2023-2025 Medium Term Expenditure Frame work MTEF, to the house of Representatives committee on finance.

Mrs Zainab Ahmed stated that if the government stopped funding subsidy in 2023, the deficit would be brought down to 3.35 trillion naira less.

She added that inflation is expected to grow at an average rate of 17.16% in the year under review.

The Chairman house committee on finance, Mr James Faleke, stated that no agency would be allowed to play with the revenue of the country.

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Mr Faleke expressed disappointment with the office of the accountant general of the federation for failing to provide details of remittances by revenue generating agencies during the public hearing.

Faleke also directed the Federal Radio Corporation of Nigeria and the fiscal responsibility commission to reconcile their accounts and report back to the house next week.

Agencies that appeared before the committee included the Federal Radio Corporation of Nigeria FRCN, Federal Roads Safety Corps, Nigerian security and civil defense Corps and the Nigeria Customs service among others.

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