By Chijioke Kingsley
Abuja (Sundiata Post) – The Head Corporate Communications, Jos Electricity Distribution Company (JED), Dr. Friday Elijah, has opined that the proposed budget of the federal government amounting to N26trn is unrealistic.
The JED Spokesman said the fluctuation of dollar in the country gives credence to the fact that the federal government is obviously deceiving Nigerians. https://sundiatapost.com/2024-budget-fg-proposes-n26trn-targets-dec-31-for-submission-at-national-assembly/
Elijah who made his opinion known on Tuesday to our correspondent, saying that the 62 per cent of the budget as proposed by the federal government for debt servicing and government personnel expenditure is wicked as only 38 per cent will be left for development in a country that has over 200 million people estimated as her population.
According to him: “A careful perusal of the paltry information provided by the Federal Government about the 2024 Budget proposal will reveal that it is deficient in several ways.
“The N7.78th proposition which is predicated on the oil benchmark of N700.00 to a Dollar shows the unrealistic nature of the appropriation bid. https://sundiatapost.com/nddc-to-partner-stakeholders-on-implementable-2024-budget/
“This is because, in reality, the dollar currently trades for more than a thousand naira. So, who is deceiving who?
“Again, the proposition itself appears very puny for a country that desires attention in all segments. This is because the federal government had disclosed that about 62% of the budget will be dedicated to personnel and debt services leaving a paltry percentage of about 38% development of a country with more than 200 million people.
“One surprising thing about the budget which appears like budgeting to fulfill all righteousness was the proposed supplementary budget even when the actual budget has not begun.
“Why don’t they incorporate or integrate the supplementary budget into the principal one?
“The proposal talked about the current inflation rate which is about 21% and GDP growth of about 3.7%.
“What is the government’s proposal for the reduction of the inflation rate? https://sundiatapost.com/2024debt-servicing-to-gulp-n8-25tn-as-fg-plans-n26tn-budget/
“It is appalling that the government seems to be predicating the budget solely on oil. Are we not generating revenue from other sectors such as Agriculture, Service, Tourism, Technologies etc?
“For me, the Budget may not usher in the necessary impetus that will stimulate economic growth in the next one year. This budget is like budgeting to fail”, Elijah said.