2020 Budget Is A Budget Of Bankruptcy – Economist

October 9, 2019
80 Views
 Mr Odilim Enwegbara

Mr Odilim Enwegbara

Economist and public affairs commentator, Mr Odilim Enwegbara has described the 2020 Appropriation Bill as “a budget of bankruptcy”.

Reacting to the Bill presented to a joint session of the National Assembly on Tuesday, Enwegbara wondered if Nigeria had not “come to the point of agreeing that this business of federal government running Nigeria’s economy should be finally brought to an end?

“For how long do we have to have such a prodigious federal government, a government that can’t stop its borrowing spree?

“For how long should we allow this government to continue to borrow its oversized consumption, where less than two million government workers have directly and indirectly be responsible for 90% of the country’s annual spending?

“For how long should the federal government has to decide where and why road or water etc. should be constructed in Nigeria?”

According to him, debt service to revenue ratio is currently approaching 80% with domestic debt approaching 70% of the country’s overall debt stock.

You may be interested

Akpabio: Nigeria can’t afford another crisis in South South
News
3 views
News
3 views

Akpabio: Nigeria can’t afford another crisis in South South

Webby - June 23, 2021

The Minister of Niger Delta Affairs, Senator Godswill Akpabio, says Nigeria cannot afford another form of crisis in the South…

Govt pays over N4bn on 51m litres of petrol not consumed by Nigerians
News
News

Govt pays over N4bn on 51m litres of petrol not consumed by Nigerians

Webby - June 23, 2021

The Nigerian National Petroleum Corporation (NNPC) says smuggling across the borders increased the daily consumption of Premium Motor Spirit (PMS)…

NDDC forensic audit report to be ready in July – Akpabio
News
1 views
News
1 views

NDDC forensic audit report to be ready in July – Akpabio

Webby - June 23, 2021

<!-- NDDC Forensic Audit Report To Be Ready In July - Akpabio – Voice of Nigeria HomeNDDC Forensic Audit Report…

Leave a Comment

Your email address will not be published.