Recession: Nigeria broke, can’t afford 2021 budget – Atiku – TBEN

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Former vice-president Atiku Abubakar informed the executive that the 2021 budget proposal was no longer tenable.

He said Nigeria was broke and couldn’t afford the luxury items in the $ 13.08 billion budget proposal.

The advice comes as Nigeria slipped into a second recession in 5 years after 2 successive negative growth quarters.

Atiku in a Twitter thread on Sunday said COVID-19 was only complicating an existing economic problem.

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“We can’t afford to wring our hands and look at the navel. We must act now, taking necessary and perhaps painful action.

“To begin with, the 2021 draft budget presented to the National Assembly on Tuesday, October 8, 2020 is no longer tenable.

“Nigeria has neither the resources nor the need to implement such a heavy luxury budget. The nation is broken, but not broken. However, if we continue to spend huge amounts, even if we do not measure up, we would go from a broken nation to a broken one.

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“Until our economic outlook improves, Nigeria should focus exclusively on formulating budget proposals for essential items, which include reasonable wages and salaries, infrastructure projects and social services (human health). citizens and other investments in human development). ”

The various committees of the National Assembly are still working on the budget.

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