From Fred Itua and Ndubuisi Orji, Abuja
President Muhammadu Buhari, on Friday, listed major challenges realities that will affect the country’s economic and political stability in 2023.
President Buhari spoke when he present the 2023 budget before a joint session of the National Assembly.
This is Buhari’s last budget before his exit from office next year, when his eight years tenure would have elapsed.
Tagged: “Budget of Fiscal Consolidation and Transition”, Buhari said “headwinds from low revenues, high inflation, exchange rate depreciation and insecurity,” are among the issues, like in other countries affecting Nigeria.
Buhari ssid “despite continuing efforts, unemployment, underemployment, and poverty rates remain high.”
“We are currently implementing several skills development programmes and work opportunity programmes to enhance the employability of our youths and tackle the troubling level of youth unemployment,” he added.
President Buhari, whose administration has raised the country’s debt profile to over $40 billion in seven years, expressed concerns over the debt-service-to-revenue.