Senators yesterday criticised the N10.33 trillion 2020 budget presented by President Muhammadu Buhari for lacking the capacity to boost growth, declaring they would “take over” and “redirect” the economy.
Leading the debate, Senate Majority Leader Yahaya Abdullahi said: “The Capital Budget to GDP Ratio is rather too small, (about two per cent of GDP).” According to him, “The injection of this amount is a mere drop in the ocean and is incapable of stimulating the economy to higher growth, wealth creation and employment generation.”
Former Deputy Senate President Ike Ekweremadu advised lawmakers to fashion out a good budget that would grow the economy. “The president has done his job,” he said but added: “It is left for us to subject the budget to legislative scrutiny. We can’t blame the president if we fail to subject the budget to scrutiny.”
He further expressed disappointment that at a time the nation is seeking ways of diversifying its economy, the budget failed to place ample emphasis on solid mineral development. On his part, Senator Adamu Alewo (APC, Kebbi State) regretted that the budget does not address poverty.
Quote
“The level of poverty is still very high therefore we should monitor whatever vote is allocated for social investment programmes,”
he said.
| Posted: at | |
jahlovesme
Henrybobo
Platinum1982
kp45
TRENDING GISTS 
Suspected Sextortion Blackmailer, Olamide Made £2m Vows To Release Embarrassing PIC/VID Of Boys
VIDEO; "Grammy Don Cast, Make We Manage Headies" – BBnaija’s Whitemoney
Crystal Palace v Manchester Utd: English Premier League Match,Team News,Goal Scorers and Stats
Heartbroken Father Mourns His 14yr Old Daughter Who Was Reportedly Poisoned in School
Nigeria's VP, Shettima Departs Abuja For 2024 US-Africa Business Summit in Dallas
Yvonne Jegede Reveals The Truth About Colleague, Mercy Johnson, While Calling Her Out (Video)