BudgIT Nigeria, has knocked the federal government over continuous breach of the Fiscal Responsibility Act with unsustainable deficits.
This is coming in the wake of President Muhammadu Buhari assenting to the 2023 Budget of N21.83 trillion, with its attendant huge N10.7 trillion deficit.
This was pointed out by the head, Research and Policy Advisory, BudgIT Nigeria, Iniobong Usen, while appearing on AIT News Hour bulletin via zoom from Lagos.
According to Usen, there are clear provisions in the FRA which state that fiscal deficit should not be more than three per cent, and this has the Buhari-led administration had breached several times, hence wants the National Assembly to increase it so it can accommodate the recurring deficits.
