2023 budget deficit: Nigeria's parliament considers finance act amendment
Nigeria's parliament has hinted on the possibility of amending the finance act as it seeks to address the 11 trillion-naira deficit proposed in the 2023 national budget. Chamberlain Peterside, the CEO of Xcellon Capital Advisors, joins CNBC Africa for this discussion.
Mon, 19 Sep 2022 16:27:23 GMT
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AI Generated Summary
- Challenges facing Nigeria's revenue generation and economic sustainability
- Importance of implementing long-term sustainable solutions for economic growth
- Potential impact of upcoming elections on budget implementation and policy measures
Nigeria's parliament is currently in discussions regarding a potential amendment to the Finance Act in order to tackle the significant 11 trillion Naira deficit outlined in the proposed 2023 national budget. Chamberlain Peterside, the Chief Executive Officer of Xcellon Capital Advisors, recently shared insights on this matter during an interview on CNBC Africa. The conversation shed light on the challenges facing Nigeria's economy and the possible solutions to address the budget deficit. Peterside emphasized the need for long-term sustainable solutions and highlighted the importance of revenue generation, accountability, and diversification of the economy. While considering the impact of the upcoming elections on budget implementation and policy measures, it is evident that Nigeria faces a complex economic landscape that requires strategic planning and effective governance to navigate through these turbulent times. Let's delve deeper into the key points discussed in the interview.
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