‘2021 Budget totally Unrealistic’– Sen. Abaribe vents


Enyinnaya Abaribe, minority leader of the senate, says the 2021 budget of N13.08 trillion presented to a joint session of the national assembly by President Muhammadu Buhari is unrealistic.

Speaking on Tuesday during a debate on 2021 budget estimates, Abaribe faulted the assumptions the appropriation bill was premised on.

The budget is based on an exchange rate benchmark of N379/$ and crude oil production of 1.86 million barrels per day (including 400,000 barrels of condensate) at $40 per barrel.

Capital expenditure in the budget is estimated at N2.083 trillion which represents 29 percent of the total budget. It targets three percent GDP growth and 11.95 percent inflation rate.

READ ALSO:  Just In! FG Bans sale of Alcohol nationwide. (See details)

However, the minority leader said the budget is “nothing but old news.”

“This budget is nothing but the same. We have a budget based on unrealistic expectations. We are not also so sure what the oil situation is going to be,” he said.

“If the budget is based on assumption, I agree but why are not assuming properly. I want to go ahead and say it does not reflect the understanding of the fundamental challenges of today.

READ ALSO:  #EndSARS: 'Save The People'- Aisha Buhari begs husband

“This budget is nothing but old news. Every time the same old news, nothing new.”

For advert placements, sponsorship, media (Music/Video) promotions, or to share breaking News stories with us, contact; +2348166333024 or +2347062811394Contact 08166333024 for ad placement, news update and others
Share this:
About Godwin chi 434 Articles
Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.

Be the first to comment

Drop a comment