UNDETERRED by Nigeria’s precarious finances, the National Assembly has characteristically raised its own allocations in the 2024 budget from the initial proposal. Lawmakers brazenly increased the N197 billion originally earmarked to over N344 billion. In a country ravaged by mass poverty among its 226 million people, cornering limited public funds for just 469 persons is extremely selfish, insensitive and provocative. As President Bola Tinubu failed to seek a revision, it falls on Nigerians to protest the travesty.

As usual, the NASS inflated the original budget of N27.5 trillion Tinubu submitted to it in November to N28.7 trillion, adding N1.27 trillion, including its own brazen heist. The increase in NASS’ allocation is 51 per cent higher than its 2023 vote and 75 per cent more than the initial proposed figure.

In all ramifications, the impunity defies economic logic; it is anti-people and anti-development. It is higher than the budgets of 18 of Nigeria’s 36 states. Over 133 million are poor, hardship stalks the land, requiring massive borrowing to run governance and provide “palliatives.” The lawmakers simultaneously approved more borrowing, foreign and domestic, including securitising another N7.3 trillion obtained from the Central Bank of Nigeria through ‘Ways and Means’ (mostly printing money).

Deficits and provision for debt servicing in the budget as proposed by Tinubu are N9.18 trillion and N8.25 trillion respectively, together amounting to 64 per cent of the total. Unemployment is 33.3 per cent and inflation 28.20 per cent. The government spends over 90 per cent of all its revenue to service debt that currently stands at N87.38 trillion.


My Husband's Killers Told Me He Got What He Deserved - Wife Of Slain Baale | Punch
The lawmakers, who shortly after the inauguration of the 10th NASS, purchased bullet-proof SUVs apiece, each costing N160 million, are following a well-trodden path of avarice and entitlement.

In 2024, the 109-member Senate will spend N49.14 billion, and the 360-member House of Representatives N78.62 billion. The NASS appropriated N6 billion for car parks; furnishing of committee function rooms (House, N3 billion, Senate, N2.7 billion). Other outrageous inputs include recreation centre N4 billion; library N3 billion; library complex N12.12 billion (take-off grant); aides N20.39 billion; Service-Wide Vote N15 billion; NASS office N36 billion and general services N30 billion.


We passed 2024 budget to reduce sufferings -Akpabio
In 2021, the NASS also raised the N128 billion proposed to N134 billion; in 2022, it raised its budget to N139 billion from the original N128 billion. From N169 billion allocated to it in 2023, it raised it to N228.1 billion.


The tradition of Nigeria’s lawmakers living in luxury at public expense will persist unless the citizens push back vigorously using by all lawful means. The executive has failed to resist, being itself given to similar behaviour.

The Economist of London in 2015 rated Nigeria’s federal lawmakers as the world’s second highest paid next to the United States, and followed by the United Kingdom and South Africa.

Worse, there is no thought of how to fund the increment. The NASS had approved additional borrowing of $7.8 billion and €100 million to finance the same budget.

Lawmakers elsewhere are more responsible. India’s federal parliamentarians in 2020 agreed to 30 per cent pay cut for one year in solidarity with hardship on the people from the COVID-19 crisis. Similar self-sacrifices were made by ministers and parliamentarians in Singapore, Poland, and Canada, and in New Zealand where they took 20 per cent pay cuts for six months.

Leadership in Nigeria has reached an unprecedented low; the lawmakers have long defied public opinion and public interest and gorged brazenly on public funds. They will not change unless the citizens fully exercise their right to protest and use their votes wisely.

https://punchng.com/citizens-should-protest-nass-selfish-n344bn-vote/

But citizen should not protest for buying of yatch?
National Assembly is just following the footsteps of the president

Lol.
That's about N0.7 billion per person to be played with.

In exchange, they pîmp out the economy by demanding bribes to cover MDAs looking for favourable policies.