2023 Budget: Why FG's N20.5 trillion proposal can’t work — Senator

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The N20.51 trillion budget is based on a $70 barrel per day oil benchmark and a daily oil production estimate of 1.69 million barrels...

, says the 2023 budget proposed by President Muhammadu Buhari cannot be implemented because the parameters used by the government are wrong.

Noting that the economy is on a fiscal cliff edge, the lawmaker said the executive arm must rework the parameters to present another budget. The Deputy Chief of Whip, Nkeiruka Onyejeocha , while reacting to the budget, said the current fiscal climate requires a change of approach from everyone. “That speaks to our attitude, we should be able to account for all the funds appropriated for and if we tell ourselves the truth, deal with the issues of subsidy, once that is sorted out, Nigeria will have more money,” he said.

 

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