2024 Budget: Tinubu, associates pushing Nigerians into extreme debt, poverty, enslavement – Onovo

2024 Budget: Tinubu, associates pushing Nigerians into extreme debt, poverty, enslavement – Onovo

By Naomisophyblog

Former National Conscience Party (NCP) presidential candidate in the 2015 elections, Martin Onovo, has faulted President Bola Tinubu’s 2024 budget.

Onovo, in an interview with the Sun, described the appropriation bill as a budget of “Emi lo kan” prodigality and national slavery.

The presidential candidate argued that the budget has a wasteful N9.9 trillion for recurrent expenditure and has a deficit of over N9.1 trillion to be financed from reckless and unpatriotic borrowing.

According to Onovo, the budget can only move the country deeper into the debt trap, more poverty and national slavery.

He said, “The 2024 budget proposal, as I have pointed out at many fora, can be called, ‘A budget of “Emi lo kan” prodigality and national slavery. The budget proposal of N27.5 trillion has a very wasteful N9.9 trillion for recurrent expenditure. The revenue estimate is based on unrealistic averages of 1.78million barrels/day production and $77/barrel price. It has a deficit over N9.1 trillion to be financed from reckless and unpatriotic borrowing. It has N8.25 trillion for debt servicing.

“We are not surprised. A bad tree bears bad fruits. This is the type of budget that the Tinubu tyranny can propose. It is consistent with the prodigal 2023 supplementary budget that was previously proposed. Please remember that Jagaban Tinubu as the emperor of Lagos State, drove the richest state in Nigeria to become the most indebted state in Nigeria.

“Now, he has unrepentantly proposed more reckless and unpatriotic borrowing for our Nigeria that is suffocating under a terrible debt burden. In 2022, we used over 96 per cent of total revenue for debt servicing and yet the Tinubu tyranny has proposed more reckless and unpatriotic borrowing. The budget can only move the country deeper into the debt trap, more poverty and national slavery.

Read Also:Ondo local government accounts weren’t frozen by Aiyedatiwa – Source

“Jagaban Tinubu and his unpatriotic cohorts are driving Nigeria deeper into insecurity, inequality, disunity, moral decadence, spiritual iniquities, debt crisis, poverty and national slavery. Nigeria was classified as a “failed state” by the US Council on Foreign Relations. Jagaban Tinubu and his unpatriotic cohorts have hijacked the country and are driving the country to complete collapse.”

About The Author

Onome Naomi

I’m a general news reporter; I report news and happenings around the globe 🌎

See author's posts