 Good evening. I am destiny mama. This is news now The House of Representatives Committee on Appropriation is some on the heads of the central bank or Lydie Cadozo FIRS boss and a Comptroller-General of Customs to appear in person before the House Committee on Failing Lee on Monday 11th, December 2023 the Chairman House of Representatives Committee on Appropriations Honourable Abubakha Kabir Beachy had during the interactive session with relevant NDAs on Appropriations Bill 2024 Refused to allow representatives of these three Organizations represent their bosses at the ongoing budget interaction Honourable Beachy went ahead to state the objective of the engagement Which among others is to provide highlights on some key issues in relation to the preparation Enactment and implementation of the 2024 budget We are supposed to think not just administer our ministries but to think out of the box What are those things we come migrate from the budget? There is a lot the private sector can do so I should also see my role as a minister that of inviting the private sector Marketing them so that they can do those things which Appropriation cannot give me the money to do. We are not going to have enough money to build all the houses We require and and indeed the roads we require so the ministers are urged to think and it has been done before And we are We have been directed to Do that will complement whatever? Funding but the importance of the budget is a signaling tool. It's a catalytic tool and is equitable so that all can feel involved the first point we really need to make is that as most of us will be aware We have run budget deficits for many years for decades For which the debt management office has been raising funds local and international to support the budget Okay, and the point I also like to make is as the level of borrowing increases because these are borrowings They're dead you have to service them so that service also Increases just to make that basic point again just to say again for the purpose of all of us here We run budget deficits here That's because there are programs and projects in the budget that the government wants to run if we go back From 2015 2016 we know we've been through about two or three recessions. We had one 2016 2017 we also had one during covid So a lot of that bring in the economy out of recession was funded from borrowing the first one was through the economy And And well the house of representatives Hello, hope you enjoyed the news Please do subscribe to our YouTube channel and don't forget to hit the notification button So you get notified about fresh news updates