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2023 Budget:Oil theft poses danger to implementation, lowers revenue to fund expenditure

Last updated: October 9, 2022 11:19 am
3 years ago
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1 Min Read
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Oil

Nigeria’s 2023 budget proposal as presented by the President to the National Assembly on Friday has further exposed the country’s financial predicament.

The massive theft of the country’s crude oil means a huge shortfall in foreign exchange earnings and significantly lower revenue to fund expenditures.

Also read: Oil Theft: Lawan, Gbajabiamila call for stricter handling of culprits

Speaker of Nigeria’s House of Representatives Femi Gbajabiamila told President Buhari that it is a case of economic sabotage and threat to national sovereignty.

(Editor: Nkoli Omhoudu)

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