Budget 2020
The president said it was a budget of Fiscal Consolidation to strengthen Nigeria’s macroeconomic environment (image courtesy: State House)

Nigeria’s major opposition party, Peoples Democratic Party (PDP), has claimed that the N10.33 trillion 2020 budget proposed by President Muhammadu Buhari to the National Assembly on Tuesday will further impoverish Nigerians.

Concise News reports that the Nigerian leader presented the Appropriation Bill for 2020 before a joint session of the country’s National Assembly in Abuja.

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Buhari said that the budget was prepared to strengthen Nigeria’s macroeconomic environment; investing in critical infrastructure, human capital development and enabling institutions, especially in key job-creating sectors.

But the PDP did not buy the president’s remarks.

The party, in a statement issued by its spokesman, Kola Ologbondiyan, urged the federal lawmakers to redirect the fiscal proposal to serve the interest of majority of Nigerians.

According to the opposition party, the core of the budget remains “hazy, showing streaks of padding, fraudulent duplication, replete with false performance indices, deceptive projections and inexplicable expenditure assertions which create openings for continued looting of our national patrimony by leaders of the All Progressives Congress (APC) and persons close to the Presidency.”

The party also criticized the Buhari administration for allegedly not being transparent in the mammoth allocations for “alleged vague projects”.

“Standing with millions of Nigerian youths and women, our party rejects the paltry budgets of N48 billion for education and N46 billion for health and urges the National Assembly to review the allocations in the interest of Nigerians,” it said.

“Furthermore, the PDP notes, as unacceptable that President Buhari, in his budget speech, could not give account of his handling of the 2019 budget and had to resort to lame excuses and unsupported figures, particularly on the various unimplemented subheads in critical sectors of the economy

“Moreover, Mr. President failed to explain why his administration has remained hugely corrupt and how his Presidency depleted our foreign reserves to an all time low $41,852 billion, accumulated huge foreign and domestic debts and kept the naira at its knees at about N360 to $1USD under his watch.”