2024 budget is hopeless – PDP
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The Peoples Democratic Party (PDP) has described President Bola Tinubu’s proposed 27.5 trillion naira budget for fiscal yr 2024 as hopeless and expensive.
The PDP stated if the proposed budget is handed, Nigerians will additional suffocate and the nation will plunge into additional financial despair and despair.
A press release signed by the PDP spokesperson, Mr. Debo Ologunagba, stated: “It is clear that the proposed 2024 budget incorporates hefty provisions to cater to the extravagant needs of the President and All Progressives Congress (APC) leaders, and is topic to funding. Funding from multilateral and bilateral international loans and elevated taxes on Nigerians is aimed toward additional mortgaging our nation and strangling already impoverished Nigerians. .
“The budget framework for recurrent expenditure of N9.9 trillion, capital expenditure of N8.7 trillion and debt service of N8.25 trillion is unsustainable contemplating the said excellent debt and deliberate borrowings. , unrealizable.It is primarily aimed toward monetary consumption, want for luxurious items and debt reimbursement.
“The lack of a concrete and verifiable motion plan to revive the manufacturing, power, agriculture and schooling sectors, that are the principle drivers of the financial system, exhibits that the Tinubu-led APC authorities is quick on concepts and the federal government It exhibits a whole disconnection from the truth of life confronted by Nigerians.
“It is of grave concern that the President said in his budget speech that the federal government has adopted an trade fee of 750 naira to the US greenback in 2024.
“This is a transparent admission of the failure, incompetence and lack of course of the APC authorities to handle and develop the financial system in a way that strengthens the nation’s foreign money, productiveness and competitiveness on the earth market.
“This further confirms that the numerous promises made by the President and government officials advocating monetary policy to strengthen the Naira were deceptive ploys. This is consistent with the APC over the past eight and a half years.”
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Source: dailypost.ng