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Buhari under fire over N10.7 trillion appropriation bill presented to NASS - 2020 budget

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Tiamiyu Saheed Oluwatosin
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calendar-icon Posted on: 2019-10-09 13:48:55
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RENO



Reno Omokri, Ex-aide to ex-President Goodluck Jonathan, on Wednesday faulted the 2020 budget President Muhammadu Buhari presented to the joint session of the National Assembly, yesterday.

Buhari had on Tuesday presented N10.7trillion budget for the year 2020 to the National Assembly joint session.

in spite of that, Omokri, who faulted the budget, insisted that Buhari was mortgaging the future of Nigeria.

In a series of tweets, the Ex-presidential aide lamented that N2.45trn was set aside for debt servicing.

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As stated by Omokri: “To show how much General @MBuhari has spent your future away, consider that in his budget, DEBT SERVICING takes ?2.45trn, which is more than capital expenditure of ?2.14trn. Mind you, debt servicing is paying interest on the debt, not repaying the debt.

“General @MBuhari is spending more on DEBT SERVICING (paying interest on debt) than CAPITAL EXPENDITURE because he more than doubled Nigeria’s debt from ?11 trillion in 2015, to ?24 trillion today. Buhari is a locust. He CONSUMES without PRODUCING.

“General @MBuhari’s 2020 budget adopted an exchange rate of ?305 to $1. Manufacturers, ordinary Nigerian People and smaller and medium scale enterprises don’t get it at that rate. Buhari rather gives it to pilgrims to Mecca and his cronies, like Nasir Danu.#BuharisLifelessBudget.”

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