Buhari said this in a letter read by Speaker Femi Gbajabiamila during plenary on Thursday.
The President also requested the review of the 2022 Medium-Term Expenditure Framework upon which the budget was hinged. “As you are aware Mr Speaker, the new development both in the global economy as well as the domestic economy has necessitated the revision of the 2022 fiscal framework on which the 2022 budget was based.
“The total budget deficit is projected to increase from N965.42 billion to N7.35 trillion representing 3.99 percent of the GDP.“Given the urgency of the request for revision of the 2022 fiscal framework and 2022 budget amendment, I seek the corporation of the National Assembly for expeditious action on this request,” he said.
The Speaker thereafter referred the letter to the House Committee on Finance for further legislative action.
Buffoons in government digging new holes to fill the old holes
We are borrowing to finance recurrent expenditure now, no longer to finance capital expenditure. We are borrowing to finance corruption, waste and inefficiency