https://www.youtube.com/watch?v=VeYOtFwtYpI


Enyinnaya Abaribe, minority leader of the senate, says the 2021 budget of N13.08 trillion presented to a joint session of the national assembly by President Muhammadu Buhari is unrealistic.

Speaking on Tuesday during a debate on 2021 budget estimates, Abaribe faulted the assumptions the appropriation bill was premised on.

The budget is based on an exchange rate benchmark of N379/$ and crude oil production of 1.86 million barrels per day (including 400,000 barrels of condensate) at $40 per barrel.

Capital expenditure in the budget is estimated at N2.083 trillion which represents 29 percent of the total budget. It targets three percent GDP growth and 11.95 percent inflation rate.

However, the minority leader said the budget is “nothing but old news.”

“This budget is nothing but the same. We have a budget based on unrealistic expectations. We are not also so sure what the oil situation is going to be,” he said.

“If the budget is based on assumption, I agree but why are not assuming properly. I want to go ahead and say it does not reflect the understanding of the fundamental challenges of today.

“This budget is nothing but old news. Every time the same old news, nothing new.”

On his part, George Sekibo, senator representing Rivers north-east, wondered why the funds earmarked for capital projects is less the deficit.

“The budget of 13.08 trillion has a deficit of 5.20 trillion. How can the capital project be lower than the deficit? I hope when we get the money, it is properly utilised,” he said.

Ike Ekweremadu, senator representing Enugu west, expressed dismay that the projected debt to GDP ratio is over three percent.

“For the first time, the debt to GDP Ratio is over 3%. I want the committee on finance and appropriation to find a solution to this,” he said.

“I have been very worried about the way we are going in terms of borrowing. I am concerned about the loan being given by China. They will not let you go off any of the debt because all the monies are for specific projects and if they are not done they take over,” he said.

Debate on the budget was adjourned till Wednesday.

Source: https://www.thecable.ng/2021-budget-is-unrealistic-says-abaribe

It can't be realistic until it is paddled.

hmmm from an economist


“This budget is nothing but old news. Every time the same old news, nothing new.”

Nah eh! No qualms
This is so unsophisticated

Nigeria self eh
Ion know anything about the Damm budget
Buh those senators nd house of rep guys
Should have there salaries slashed
If possible by 60%
And the leftover added or being utilized for the budget instead of borrowing

noted

By the time these satanic vultures finish feasting on the resources of this country, nothing will be left to be carried by the bullion van presidential aspirant.

One of the few that is in touch with the reality on ground. He's a true leader.

He should move a motion to reduce their salaries so it can be realistic...... Then I'll take them serious

bigeliot:
One of the few that is in touch with the reality on ground. He's a true leader.

What do you expect from a minority leader?

It is well. I just love those who speak the truth...

Was any of Buhari's budget realistic

Just wait, lazy youths are sleeping. When they wake they will just see the headline and the name attached to it and without reading the body of the write up will start insult. Meanwhile they are the vulnerable.


Just come back after about five hours from now.

This is the reason why we need to have other major source of income apart from Oil.

Every day for Nigeria politics na different wahala

Men that are finishing Nigeria acting like they are concerned

He made some sense

“For the first time, the debt to GDP Ratio is over 3%. I want the committee on finance and appropriation to find a solution to this,” he said.

Borrow, borrow. Now the people that signed (legislated) Nigeria into debt are now wailing.
Listen clearly, when Nigeria's liberation come even if the people who ruined Nigeria are dead, their graves will be located and sold to skull miners. Yes, your skulls will be mined. Mark my word. Death will not save all those who looted us. So if you looted us, make sure you are buried outside Nigeria.

Very useless and incompetent Lawan. Werey in disguise..

God bless Enyinnaya Abaribe for saying the fact concerning the so called budget.

Noted. Let's us know what we are commenting on before comment. So many people are in this platform which all they care about is to make FTC. I don't think this is right enough. So many people are here to read a comment. I huge us to do more. God bless us all and good morning to everyone.

.

They will criticise it openly but will not do anything to it than to add their own and increase the burden on the country.

morgstreme:
2021-budget-is-unrealistic-says-abaribe

The Director Generals,South East Branch of the WAILING WAILERS has opened the floor.

The party can henceforth proceed!!!

USELESS IDIOTIC Abaribe...IPOB Leader..

Someone that has NEVER tied to make Abia state a place better than when he met it as deputy governor is talking..

Just because his THIEVING PDP isn't on seat.

Everything isn't about PDP or APC. He made sense in what he said.

A very unrealistic budget but since we are practicing Buharinomics any thing that confuses the led can go through.

It's very realistic our president is a magician.

morgstreme:


Even when he stood as surety for Nnamdi "COWARD" Kanu,he made some "sense"...

Calm down man.
That's not the topic we're discussing today.

Aflix:
This is the reason why we need to have other major source of income apart from Oil.

over four years don waka they said Niger delta oil would be irrelevant but till date they are still relying on it as d major source of revenue for budget

Dave0116:

What do you expect from a minority leader?

Bro that's not the issue. Politics aside, Abaribe is an Economist and is giving you a realistic analysis. I hope they listen to him sha.

I wonder if we do even have economists how can you budget and knowing well you expect less


Abaribe is making sense

.

morgstreme:


The Director Generals,South East Branch of the WAILING WAILERS have opened the floor.

The party can henceforth proceed!!!

USELESS IDIOTIC Abaribe...IPOB Leader..

Someone that has NEVER tried to make Abia state a place better than when he met it as deputy governor,is talking..

Just because his THIEVING PDP isn't on seat.

You must be a SW man! You are just thinking like them, that is their thought process