Deji Elumoye and Juliet Akoje in Abuja
The passage of the 2022-2024 Medium Term Expenditure Framework was sequel to the consideration and deliberation of a report by the Joint Committees on Finance; Local and Foreign Debts; Banking, Insurance and other Financial Institutions; Petroleum Resources ; Downstream Petroleum Sector and Gas. Contributing to the debate, former Governor of Benue state and Chairman of the Senate Committee on Power, Senator Gabriel Suswam, lamented that government’s borrowing had been increasing yearly, wondering when it is going to stop.
He said: “The issue of borrowing and deficit. We now have a deficit that has been growing year in, year out. When is it going to stop.“We have a deficit that has gone beyond the threshold of the Fiscal Responsibility Act 2007 which then means that is either we amend the FRA so as to accommodate this deficit.
On his part, Chairman of the Senate Committee on Aviation, Senator Smart Adeyemi, posited that “there was nothing wrong with borrowing provided it is channelled towards improving infrastructure such as road, health facilities, as well as empowering Nigerians.”
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