N19.76tn budget proposal: N12tn deficit worries FG, debt may hit N54tn
August 30, 2022
The Federal Government is proposing a budget with estimates totalling N19.76tn, while the deficit will hover between N11.30tn and N12.41tn in the 2023 fiscal year.
If the deficit settles at N12.41tn in 2023, the Federal Government may need to borrow to finance it, which could raise Nigeria’s total debt to a record N54.01tn.
Nigeria’s current debt is N41.6tn, according to the 2022 first quarter…
