Connect with us

News

Recession: Nigeria is broke, can’t afford 2021 budget – Atiku

Published

on

Former Vice President, Atiku Abubakar has advised the executive that the 2021 proposed budget is no longer tenable.

He stated that Nigeria is broke and cannot afford the luxurious items in the N13.08 trillion budget proposal.

The advice is coming as Nigeria slided into a second recession in 5 years following 2 successive negative quarters growth.

Atiku in a Twitter thread on Sunday stated that COVID-19 only complicated an existing economic problem.

“We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions.

“For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable.

“Nigeria neither has the resources nor the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation to being a broken nation.

Until our economic prospects improve, Nigeria ought to exclusively focus on making budgetary proposals for essential items, which include reasonable wages and salaries, infrastructural projects, and social services (citizenry’s health, and other human development investments).”

The various committees of the National Assembly are still working on the budget.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

End SARS: Nigerian govt reaches out to UK over sanction threat

Published

on

The Federal Government, on Wednesday, revealed that it has reached out to the British Government over the threat by the UK Parliament, to impose sanctions on Nigerian officials over their roles in the End SARS protests.

The Minister of Foreign Affairs, Geoffrey Onyeama, stated this while fielding questions from State House reporters at the end of the weekly virtual Federal Executive Council, FEC, meeting presided over by President Muhammadu Buhari.

According to him, the Nigerian government has reached out to present its own side of the story.

Onyeama also argued that lawmakers are not responsible for imposing sanctions.

“Yes, we have reached out to the UK government. The meeting that took place were Parliamentarians and they do not speak for the UK government which acts for the United Kingdom and they have also heard the side of the (Nigerian) government regarding everything that has happened.

So, we have been in touch with them and engaging with them. Of course, as in any democracy, the members of parliament are able to also able to air their view.

“But what is important, is that a balanced picture is made available to them, before they take any decision,” Onyeama said.

Continue Reading

Trending