An economic expert has identified six critical considerations for the N21.88 trillion 2023 National Budget.
The Regional Senior Partner, Nigeria and West Africa, KPMG, Tola Adeyemi, disclosed this during an Arise TV/KPMG programme monitored by Newspot on Tuesday.
Adeyemi gave a step-by-step breakdown of the country’s 2023 budget, saying it is a deficit.
President Muhammadu Buhari earlier this month signed the nation’s budget into law, comprising N5.35 trillion for capital expenditure, debt service will gulp N6.31trillion, and N8.27trillion for recurrent (non-debt) while expected revenue is N9.73trillion.
Also, a further figure puts the budget deficit at N10.78 trillion.
Shedding light on the budget and a perspective on what it means for Nigeria’s economy and Nigerians, Adeyemi highlighted that enhancing government revenue, addressing inflationary pressures, subsidy removal, and debt sustainability become critical.
“Issues to be unpacked and examined critically in 2023: Enhancing government revenue, removal of subsidy/inflation pressures, debt sustainability, infrastructure finance, security and safety, manufacturing and industrialization, value addition for exports, social development(Health and education)”, he stated in his presentation.
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