The senator representing Abia-South Senatorial District of Abia State in the Senate, Enyinnaya Abaribe, has described the 2020 budget as “nothing but a budget of taxation.”
The senator added that the budget is not “sustainable.”
President Muhammadu Buhari presented the 2020 Appropriation Bill to the joint sitting of the National Assembly on Tuesday.
He had christened it ‘Budget of Sustaining Growth and Job Creation.’
However, Abaribe, speaking at the Senate plenary on Wednesday, told the Red Chamber, “This is nothing but a budget of taxation.
“I urge the Senate to look at that fact, as it is not a sustainable budget.”
He hinged his reason on the ratio of debt servicing, compared to that of capital expenditure.
Abaribe argued, “Debt servicing is higher than capital expenditure. We are still struggling.”
A former Governor of Benue State who now represents Benue North-East Senatorial District at the Senate, Gabriel Suswam, supports Abaribe’s observation.
Suswam said, “I commend Mr. President for bringing an ambitious budget; the deficit worries me, there is a correspondence borrowing increase; we need to do something in this Chamber by way of legislation to address borrowing.”
However, Senator Aliyu Sabi Abdullahi (Niger North), saw things differently.
To him, “This is a budget of continued change. This government is on the right trajectory.
“This budget has addressed how the micro and medium small enterprises will play a key role in building the Nigerian economy.”
Continuing, Abdullahi said, “This budget will continue the change and ensure our citizens see a better economy.”