{"id":9354,"date":"2022-10-07T11:29:10","date_gmt":"2022-10-07T11:29:10","guid":{"rendered":"https:\/\/ideemlawful.com\/?p=9354"},"modified":"2022-10-07T11:29:16","modified_gmt":"2022-10-07T11:29:16","slug":"national-debt-grew-by-n3-2tn-in-six-month-buhari","status":"publish","type":"post","link":"https:\/\/ideemlawful.com\/wp\/national-debt-grew-by-n3-2tn-in-six-month-buhari\/","title":{"rendered":"National debt grew by N3.2tn in six-month\u2014Buhari"},"content":{"rendered":"\n<p>The President, Major General Muhammadu Buhari (retd.), on Friday, said national debt rose from N39.6tn in December 2021 to N42.8tn in June 2022.<\/p>\n\n\n\n<p>This was as he said the budget for the past year saw a deficit of N4.6tn, 63 per cent of the estimated deficit for the 2022 fiscal year.<\/p>\n\n\n\n<p>Buhari revealed this while presenting the 2023 appropriation bill to a joint session of the National Assembly in Abuja.<\/p>\n\n\n\n<p>Explaining further, he said the rising deficit was due to high debt servicing resulting from rising interest rates.<\/p>\n\n\n\n<p>According to him, the Federal Government disbursed N1.48tn for recurrent expenditures for all its Ministries, Department and Agencies in the past year.<\/p>\n\n\n\n<p>He argued that reducing government spending too drastically will be socially destabilising. Therefore, the regime is focused on increasing economic activity and by extension, revenue.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The President, Major General Muhammadu Buhari (retd.), on Friday, said national debt rose from N39.6tn in December 2021 to N42.8tn in June 2022. This was &#8230; <a title=\"National debt grew by N3.2tn in six-month\u2014Buhari\" class=\"read-more\" href=\"https:\/\/ideemlawful.com\/wp\/national-debt-grew-by-n3-2tn-in-six-month-buhari\/\" aria-label=\"Read more about National debt grew by N3.2tn in six-month\u2014Buhari\">Read more<\/a><\/p>\n","protected":false},"author":15,"featured_media":9355,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[21],"class_list":["post-9354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-ipad","resize-featured-image"],"_links":{"self":[{"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/posts\/9354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/comments?post=9354"}],"version-history":[{"count":0,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/posts\/9354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/media\/9355"}],"wp:attachment":[{"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/media?parent=9354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/categories?post=9354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ideemlawful.com\/wp\/wp-json\/wp\/v2\/tags?post=9354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}