Group condemns FG’s move to borrow for 2023 budget financing | The Guardian Nigeria News - Nigeria and World News

It noted that monies borrowed before now by FG have not been repaid. The group stressed that embarking on further borrowing, with existing huge debt profile, would amount to gross insensitivity.

In a statement by the President of COSEYL, Goodluck Ibem, the group insisted there is need for FG to devise ways of running the country and meet its financial obligations to avoid acts that could mortgage the future of the country. “Excessive borrowings by the Muhammadu Buhari administration, knowing full well the implications if not repaid, will enslave Nigerians.

“We have pretended enough, and for too long. It is time to wake up and smell the coffee. We are in a bad shape as a country.“Without the help of a soothsayer, it is clear that monies generated from oil on daily basis are not accounted for.

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2023: FG to borrow N11tr, spend N3.36tr on subsidy | The Guardian Nigeria News - Nigeria and World NewsAhead of the 2023 budget presentation, the Federal Government, yesterday, insisted that petroleum subsidy would remain in place until mid-2023. In addition, the government will borrow over N11 trillion and sell national assets to finance budget deficit next year. Again The two ministers who must go to prison 1. Minister of Finance 2. Minister of humanitarian affairs. This madam is back again 😪
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