An economist has identified six critical considerations for the N21.88 trillion national budget in 2023.
Senior Regional Partner, Nigeria and West Africa, KPMG Tola Adeyemi revealed this during Arise TV/KPMG monitored by the DAILY POST on Tuesday.
Adeyemi provided a step-by-step breakdown of the country’s 2023 budget, saying it was a deficit.
President Muhammadu Buhari earlier this month signed the state budget into law, consisting of N5.35 trillion for capital expenditure, debt service will receive N6.31 trillion, N6.31 trillion for recurring (non-debt) while projected revenue is N9. .73 trillion.
Also, another figure puts the budget deficit at N10.78 trillion.
Highlighting the budget and a perspective on what it means for the Nigerian economy and Nigerians, Adeyemi highlighted that boosting government revenues, addressing inflationary pressures, eliminating subsidies and debt sustainability has become critical.
“Issues to be thoroughly disassembled and studied in 2023: enhancing government revenues, removing subsidy/inflationary pressures, debt sustainability, infrastructure financing, security and safety, industrialization and manufacturing, value addition to exports, and social development (health and education),” he stated in the statement. susceptible.
An expert reveals the key considerations that need to be unpacked in Nigeria’s 2023 budget