NewStats: 3,262,160 , 8,176,289 topics. Date: Sunday, 01 June 2025 at 05:06 AM 2l4h1b

Chairman, House Committee on Finance, James Faleke, made this known at the ongoing public hearing on the 2022/2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (FSP) on Thursday in Abuja.

“We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used.

“For God sake, let us build this country together for the sake of all of us,’’ he said.

Faleke said that the major problem facing the country was revenue generation, adding that the House of Reps would be more interested in how much government agencies could save.

He said that if the House of Reps discovered that any of the government agencies’ capital projects were unnecessary, they would be removed in a bid to get revenue for the country.


The committee also directed the Nigeria Communication Commission to provide the turnover of amount realised from all network operators from 2018 to 2020.

Faleke said that this would enable the committee to look at their records and be able to determine if the revenue proposal for 2022 to 2024 would be good for the country.

Some of the agencies invited for the 2022 to 2024 MTEF and FSP public hearing are Nigeria Port Authority, Nigeria Communication Commission, Nigeria Copyright Commission, Nigeria Investment Promotion Commission.

Others are Nigeria Metrology Agency, Nigeria Postal Service, Federal Road Safety Corps, Nigeria Export Promotion Council, Nigeria Communication Satellite Ltd. among others.

Mr Emeka Iseogwu, the General Manager, Finance, who represented the Director-General of NPA, said that the agency was on course in of revenue generation.

He said that NPA was targeting N338 billion for revenue in 2022.

https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

Buhari is economically bankrupt

I don't understand this kind of borrowing, are you saying we don't have revenue again to take care of this country that we have to borrow this much. When we have NNPC, CUSTOMS, NPA, NCC, FRSC, AGRICULTURE, etc. Hmmm LORD have mercy on Nigeria.

Nigeria= useless

The only language Buhari understand is to borrow, and the fuming as indicated in the topic by the House of Representatives is a sign of approval ...

Hope they know they're not being called rubberstamp for nothing? Guess it is this same HOR part of the NASS that have been approving previous senseless loans for the same president?

When Buhari is done with this Nation, we'll be looking for visa to go to Kabul, Afghanistan

The damage this regime has done will take a whole generation to be repaired

A government of idiots

Basic economics just to sustain a nation, they can’t. They won’t even for one tangible project with all the money being spent. If it’s to buy Prado or Hilux now, their preek will stand for that one.

Xscape047:
Dou know

In Hawaii, you can experience sunny beaches and snowy mountains on the same island

Of course... not only in Hawaii... All peaks within the death zone territory tends to have cooler tops with ice sheet.

Kilimanjaro etc...

Femi is Buhari's houseboy, Lawan is less than a servant.

poor man don suffer

Why are we borrowing money when we are sending money to Niger Republic?

The North should be banned from holding leadership positions in Nigeria, at least for 50 years. Let us undo the damage Buhari and his fellow Northerners have done in 8 years.

Quota system president. No brain, just foolishness.

I personally hate people that brings God into nigeria matter, especially people that keep saying pray for nigeria...Well God is to busy to answer our prayer cuz HE already gave us everything we need in this stupid country....

Dem never do 2021 budget borrowing finish, na 2022 them don plan ahead to borrow.

Buhari taking bambiala and almajiri to international level and breaking every borrowing limits ever known in the world

The redundant coupist is hell bent on sinking the shithole!

The doomed herder is Nigeria's worst blunder

A big political strategy.

It's well, borrowing yet our vat on monthly basis would av been enough bcoz almost every adult pay tax in one way or the other.

lalajnr:

https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

Dem go soon borrow with Aso Rock as collectral.

Xscape047:
Dou know

In Hawaii, you can experience sunny beaches and snowy mountains on the same island

O oga, are you aware that this your question deserves a question mark?

Ok

Borrow and loot Government

Buhari is a scientific experiment to understudy how much pain a nation can withstand but he is going beyond the scale.

lalajnr:


“We are not you happy the way Nigeria is borrowing N5.62 trillion and we have some fund somewhere staying fallow without being used.

https://www.google.com/url?q=https://punchng.com/reps-fume-as-fg-borrows-n5-62trn-to-fund-2022-budget-deficit/&sa=U&ved=2ahUKEwjLoY-wxr3yAhVhgP0HHQEVAiYQlO8DMAp6BAgCEBc&usg=AOvVaw3JyyvU7J6kioKscj8lUO4V

The finance minister said that the money is needed to fund the budget.
Some persons have argued that the low oil price is affecting the economy. During GEJ, oil sold for over $100 but in Buhari's tenure, oil is low bla bla and he needs to borrow so as to provide infrastructure.
I agree that the price of crude oil was high during the last istration. However, the present istration introduced more taxes to help generate funds. As an individual, I know how much leave my savings' s monthly in the name of stamp duty and taxes on transactions. I pay SMS tax and other ridiculous taxes and these weren't in place during the last istration.
With all these funds generated from individuals and organisations, why does the government still borrow that much to fund budget?
Before you ask what can #50 stamp duty do, imagine #50 been deducted from the s of fifty million people. There are days I am charged more than #300 a day depending on sales or other reason (s) for a credit transactions. Same with millions of holders out there.
We learnt that customs office is generating over a trillion Naira yearly. What is the money used for?
The government can't even for these money. It keeps borrowing thereby, creating financial problems for successive governments.
The corruption in this istration is so massive.

This same government that budgeted almost 700million for dogs. What an unprecedented level of corruption.

God abeg

For God sake, let us build this country together for the sake of all of us,’’ he said

Interesting, so you people know you aren’t building this country before. It’s God that will punish all of you.

By the time Buhari is done with Nigeria, Benin republic will be like paradise to Nigerians.