President Muhammadu Buhari is expected by noon on Thursday to present the budget of 2022 to a joint session of the National Assembly.
N16.39 trillion budget was approved on Wednesday by The Federal Executive Council.
At least, N5.012 trillion is to be financed by borrowing, raising concerns over the nation’s debt sustainability.
The Minister of Finance, Zainab Ahmed, mentioned that the government needs to borrow to finance “developmental projects in such as roads, rails, bridges, power and water for sustainable development in this country."
“If we just depend on the revenues that we get, even though our revenues have increased, the operational expenditure of government, including salaries and other overheads, is barely covered or swallowed up by the revenue.” She added.
More details coming soon...
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