{"id":78690,"date":"2022-12-26T16:40:28","date_gmt":"2022-12-26T15:40:28","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg"},"modified":"2022-12-26T18:28:13","modified_gmt":"2022-12-26T17:28:13","slug":"supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","title":{"rendered":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget will cause severe economic shocks in 2023.<\/p>\n<p>It stated this on Sunday in a statement signed by its Director-General, Dr Chinyere Almona.<\/p>\n<p>The Federal Government planned an N819.5 billion supplementary budget proposal by President Muhammadu Buhari\u2019s administration a few days before the year\u2019s end.<\/p>\n<p>According to Buhari, the budget would be financed by additional loans.<\/p>\n<p>LCCI reacting to the development, said, \u201cA deeper look at the figures showed that the supplementary budget if approved, will raise the budget deficit for 2022 from N10.78 trillion to N11.6 trillion and about 4.43% deficit to GDP ratio. The most critical issue, though, is not about the level of spending but the cost of borrowing\u201d.<\/p>\n<p>LCCI disclosed that the massive burrowing by Buhari\u2019s government had had an enormous impact on the Nigerian economy, stating that increasing the nation\u2019s debt servicing burden would make the country vulnerable to unforeseeable shocks in an election year.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget will cause severe economic shocks in 2023. It stated this on Sunday in a statement signed by its Director-General, Dr Chinyere Almona. The Federal Government planned an N819.5 billion supplementary budget proposal by President Muhammadu [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":78689,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1571,1570,2140,1275,254],"class_list":["post-78690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-1571","tag-africa-press","tag-africa-press-nigeria-2","tag-lcci","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG - Nigeria<\/title>\n<meta name=\"description\" content=\"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG\" \/>\n<meta property=\"og:description\" content=\"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-26T15:40:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-26T17:28:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG\",\"datePublished\":\"2022-12-26T15:40:28+00:00\",\"dateModified\":\"2022-12-26T17:28:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\"},\"wordCount\":190,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg\",\"keywords\":[\"2023\",\"Africa Press\",\"Africa Press-Nigeria\",\"LCCI\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\",\"name\":\"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg\",\"datePublished\":\"2022-12-26T15:40:28+00:00\",\"dateModified\":\"2022-12-26T17:28:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg\",\"width\":1280,\"height\":1280,\"caption\":\"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG - Nigeria","description":"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","og_locale":"en_US","og_type":"article","og_title":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG","og_description":"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...","og_url":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","og_site_name":"Nigeria","article_published_time":"2022-12-26T15:40:28+00:00","article_modified_time":"2022-12-26T17:28:13+00:00","og_image":[{"width":1280,"height":1280,"url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG","datePublished":"2022-12-26T15:40:28+00:00","dateModified":"2022-12-26T17:28:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg"},"wordCount":190,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg","keywords":["2023","Africa Press","Africa Press-Nigeria","LCCI","Nigeria"],"articleSection":["all news","Policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","url":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg","name":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg","datePublished":"2022-12-26T15:40:28+00:00","dateModified":"2022-12-26T17:28:13+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Lagos Chamber of Commerce and Industry, LCCI, has warned that the Federal Government planned supplementary budget wi ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/12\/postQueueImg_1672060232.77.jpg","width":1280,"height":1280,"caption":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/policy\/supplementary-budget-will-cause-severe-economic-shocks-in-2023-lcci-warns-fg#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"Supplementary budget will cause severe economic shocks in 2023 \u2013 LCCI warns FG"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","url":"https:\/\/www.africa-press.net\/nigeria\/author\/cfeditoren"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/78690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=78690"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/78690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/78689"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=78690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=78690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=78690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}