Recession: Nigeria Can’t Afford 2021 Budget – Atiku
Former Vice President, Atiku Abubakar has advised the executive that the 2021 proposed budget is no longer tenable as Nigeria is broke.
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 two 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.
The newly elected SDNON excos have unveiled their ambitious plans for 2025 and celebrated the outgoing executives.…
The leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has released his 2025…
Music has always been central to African culture, reflecting societal changes while connecting generations. In…
Sinach is set to feature in the global Christian event, Gather25. Glamtush reports that Gather25,…
Yahaya Bello has been released after meeting his bail conditions. Glamtush reports that former…
Makinde has cancelled his birthday celebration to honour the Ibadan stampede victims. Glamtush reports that Governor…