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Senator calls for 2019 budget increase by N10 trillion

By Timileyin Omilana on 20/03/2019

Views: 319

•Senator Ohuabunwa
•Senator Ohuabunwa

A People’s Democratic Party senator, Mao Ohuabunwa, Tuesday called for the Nigerian senate to “jack up” the 2019 budget by 10 trillion Naira.

“Instead of reducing, we should ‘jack up’ the budget by 10 trillion,” Ohuabunwa said during the plenary.

The 2019 appropriation bill sent by the President is N8.82 trillion. The spending list, N8,826,636,578,915, has a recurrent expenditure of N4 trillion while N2 trillion goes for capital expenditure with N2.2 trillion and N492 billion for debt servicing and statutory transfers respectively.

Ohuabunwa complained that the two trillion naira allocated to the capital expenditure is not enough due to the various ongoing projects.

“What can two trillion do when we have ongoing projects,” he questioned.

“We need to block leakages and ensure taxes are collected and put into good use in the economy such as the Basic Health fund which Senate President, Bukola Saraki started,” Ohuabunwa added.

However, Senator Enyinnaya Abaribe while reacting to the budget said, “With a total debt service of 25.7% and capital budget at 23%, it means we are paying more debt.

“This is a budget of impossibilities. Out of every 1 Naira, 68kobo is paid out. The Federal Government needs to go back to the drawing board,” he added.

Excerpted from The Guardian report

 

 

Source News Express

Posted 20/03/2019 05:24:12 AM

 


 

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