πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada


FG plans N854.8bn for pensions in 2023

The Federal Government intends to spend N854.8 billion on pensions, gratuities, and retiree benefits in 2023.

On Friday in Abuja, President Major General Muhammadu Buhari (ret.) revealed this when delivering the 2023 appropriations bill to the National Assembly.Infomation Guide Nigeria

πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

He revealed that the entire non-debt recurrent expenditures from January to July 2002 were $3.24 trillion, of which $2.87 trillion was allocated to salaries, pensions, and other operating expenses.

According to him, government spending for the 2023 fiscal year would total N20.15tn.

Prof. Uche Uwaleke, a Professor of Capital Market and Chairman of the Abuja Branch of the Chartered Institute of Bankers of Nigeria, stated:

Other Top Stories:

β€œThe early presentation of the 2023 budget proposal is commendable as it ensures the sustainability of the return to the January to December budget cycle.

β€œIt’s equally noteworthy that the Finance Bill will be considered alongside the 2023 Appropriation Bill as well as the fact that the budget of government owned enterprises is integrated to promote transparency.

β€œI think the oil price benchmark of $70 is conservative in line with budget principles. I also think the oil production benchmark of 1.69mbpd is realistic given the assurance by the President that the NNPC Limited is doing something to curb oil theft and pipeline vandalism.

β€œIt is, however, worrisome that capital expenditure as a proportion of total spending has gone down well below the government target of 30 per cent while debt service at over N6tn is in excess of amount budgeted for capital expenditure.”

πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

The Chief Executive Officer, Centre for the Promotion of Private Enterprise, Muda Yusuf, said, β€œThe 2023 Federal Government budget has further amplified the troubling fiscal outlook for the economy.Β  Expenditure continues to accelerate amid consistent weak revenue performance.

β€œWe have a budget of N20.51tn naira and revenue projection of N9.73tn naira. This is a deficit of 10.78tn.Β  In all probability, the deficit will be much bigger by year-end because of the track record of revenue under performance over the last couple of years.Jamb ResultΒ 

β€œWe are also likely to see an acceleration of CBN financing of the fiscal deficit given the revenue performance trajectory. The public debt stock is growing and currently at N42tn.

Check Jamb ResultΒ 
Check and Confirm: How much is Dollar to Naira


Immigrate to Canada Via Job Offer!

Get latest Jobs in Canada for foreigners with visa sponsorship 2023 and how to apply. Don't miss this opportunity that can help you relocate to Canada with your family.


Click here to Subscribe

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). .
The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact usΒ  for immediate removal.

Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker