The National leadership of the Peoples Democratic Party, PDP, picked holes in the budget.. In a statement by its National Publicity Secretary, Chief Olisa Metuh, the party described the N6.08 trillion budget as a big fraud and executive conspiracy tailored towards mortgaging the future of the nation.
The party while querying President Buhari’s decision to borrow N2 trillion, which it termed the biggest in the history of the nation, said that it was the height of recklessness and deceit from a government that trends on propaganda. PDP also berated the Federal Government for trying to use its bogus welfare programme and phantom capital projects as cover and conduit to siphon the funds to satisfy partisan interests, particularly to settle huge campaign debts.
Metuh said: “It is obvious that this budget is an extension of the campaign promises of the APC government, presented as a manifesto filled with bogus promises which implementation will be inconclusive, thereby allowing the APC to once again deny their promises.
“There has never been any known economy in the world where government deliberately mortgages the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus welfare programmes. This is moreso important as the APC in reeling out their bogus campaign promises never informed Nigerians that they would mortgage their future through excessive borrowing.
“We have it on good authority that this is the first in the series of APC borrowings which would leave the future generation of Nigerians under the burden of huge debts after four years.”
Metuh who noted that the budget clearly shows that after seven months in power, President Buhari and his party, the APC were yet to differentiate between governance and campaign propaganda, said: “By all standards, the 2016 budget, the first major economic policy outing of this government, is completely unrealistic and duplicitously embellished with impractical predications, a development that confirms fears by economy watchers and investors that this administration is obviously ill-equipped for governance.
“We are indeed shocked that President Buhari and his minister of information have come up with two different reasons for the current fuel crisis in the country. While we appreciate the President’s apology, we think it is high time he called this minister to order as his excessive propaganda and blame game are ridiculing this administration and the image of the nation.
“Furthermore, it is instructive to note the official endorsement of Mr. President to the devaluation of the naira as against his campaign promise of firming up the value of our currency even to the much vaunted one naira to one dollar. Does it mean that Mr. President lied his way to power, or that he did not understand the complexities of governance when he was making his false promises to Nigerians?
“In future, there is need to regulate campaign promises so that we will not end up with a government that promises to climb Mount Everest with bare hands and end up mortgaging our future with orchestrated borrowings.’’
Lawmakers hail proposal
Reacting to the budget, shortly after the Senate and the House of Representatives adjourned till January 12, 2016, Senate Deputy Majority Whip, Senator Francis Alimikhena, APC, Edo North, described the budget as that of hope, just as he urged Nigerians to be patient with the government as things will be better soon, adding that President Buhari meant well for Nigeria and Nigerians.
In his reaction, Senator Bukkar Abba Ibrahim (Yobe South), said the promise of free education by the president was laudable, describing it as budget of hope.
Also commenting, Senator Kabir Marafa, APC, Zamfara Central who described the budget as that of hope, however promised that the Senate would ensure that the bill was given attention and passed for the interest of Nigerians
Senator Solomon Adeola (Lagos West) in his reaction said it was cheery to see the budget take care of social interventions such as school feeding and social welfare for the unemployed.
Senator Bassey Akpan (PDP, Akwa Ibom North-east) who described it as people-centred and an indication that the president means well for the country, said that National Assembly would look at assumptions in it and ensure that the implementation was in line with the way it is passed.
Reacting to the budget, Rep Austine Chukwukere, APC, Imo State who described the 2016 Appropriation Bill as presented by President Muhammadu Buhari as a fruitful budget, said that the budget would stimulate and engineer the economy in such a way that the infrastructure deficit that had been the order of the day in previous administration had been given a boost.
Rep Chukwukere said that the increment in the capital expenditure would lead to improvement on the dilapidated infrastructure in the country as well as the industrial re activation.
Chukwukere who is the Deputy Chairman of Finance Committee said that if the budget would be fully implemented it would re-kick start the economy for the good of Nigerians.
On the $38 benchmark in which the budget was premised despite that the oil price per barrel had fallen to $32, he explained that the projection was that before first quarter of next year, the oil price must have appreciated going by some indices.
He expressed the optimism that the benchmark would not affect the effective implementation of the budget.
Also commenting on the budget, Rep Philip Shaibu representing Etsako Federal Constituency of Edo State on the platform of All Progressives Congress, APC, said that the budget will make poverty history in 2016.
He said that the emphasis on job creation and improved education was a welcome development, adding that creation of employment will empower Nigeria youths.
Shaibu who was a former Majority Leader in Edo State House of Assembly and a one time president of National Association of Nigerian Students, NANS said there was a departure from what was obtained in the previous administration where the government borrowed money to finance the recurrent expenditure.
According to him, President Buhari had increased the budgetary allocation to the capital expenditure and assured that the money to be borrowed would be used on capital expenditure and not on recurrent.
He said that one of the essential feature of the budget was the deviation from oil to solid minerals and agriculture, noting that over reliance on the oil sector has brought the economy to the present poor state as a result of the fall in the price of oil.
He further said that with the transparency introduced by the government, there was hope that it would be implemented to the fullest.
Adding, “I see our economy booming, I see the economy being restructured. Poverty issue will be totally addressed. I am optimistic,” he stated and commended on the two leadership of the house for taking the decision to ensure effective oversight function
Also in his reaction, Member representing Bali/Gassol federal constituency of Taraba state, Hon. Garba Chede, said the budget is a product of deep thinking based on realities of the nation today.
“This is the first time APC administration was presenting a budget and this budget, undoubtedly, is a creation of deep thinking based on realities, which was obvious to all Nigerians.”
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