2020 budget not sustainable-Abaribe

Senate Minority Leader, Sen. Enyinnaya Abaribe

The senator representing Abia-South Senatorial District of Abia State in the Senate, Enyinnaya Abaribe, has described the 2020 budget as โ€œnothingย but a budget of taxation.โ€

The senator added that the budget is not โ€œsustainable.โ€

President Muhammadu Buhari presented the 2020 Appropriation Bill to the joint sitting of the National Assembly on Tuesday.

He had christened it โ€˜Budget of Sustaining Growth and Job Creation.โ€™

However, Abaribe, speaking at the Senate plenary on Wednesday, told the Red Chamber, โ€œThis is nothing but a budget of taxation.

โ€œI urge the Senate to look at that fact, as it is not a sustainable budget.โ€

He hinged his reason on the ratio of debt servicing, compared to that of capital expenditure.

Abaribe argued, โ€œDebt servicing is higher than capital expenditure.ย We are still struggling.โ€

A former Governor of Benue State who now representsย Benue North-East Senatorial District at the Senate, Gabriel Suswam, supports Abaribeโ€™s observation.

Suswam said, โ€œI 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.โ€

However, Senator Aliyu Sabi Abdullahi (Niger North), saw things differently.

To him, โ€œThis is a budget of continued change. This government is on the right trajectory.

โ€œThis budget has addressed how the micro and medium small enterprises will play a key role in building the Nigerian economy.โ€

Continuing, Abdullahi said,ย โ€œThis budget will continue the change and ensure our citizens see a better economy.โ€

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