The committee said this on Tuesday during a panel meeting between Zainab Ahmed, minister of finance, budget and national planning, and heads of revenue generating agencies in Abuja.
The minister informed the committee that the N19.76 trillion proposed as the 2023 budget would have a deficit of N12.43 trillion because N6 trillion had been projected as tax and import duty waivers, while fuel subsidy would take N6 trillion.Adeola said the projected N12.43 trillion budget deficit and the N6 trillion tax and import duty waivers should be adjusted before sending the proposals to the national assembly for consideration and approval.
According to him, the issue of waivers should be given top paramount by relevant authorities, adding that Nigeria does not have room for wastages and leakages.