2016 Budget: N2.22trn deficit’ll mortgage Nigeria’s future – PDP

The Peoples Democratic Party (PDP), Tuesday, slammed the budget presented by President Muhammadu Buhari to a joint session of the National Assembly, describing the N6.8 trillion 2016 federal budget as a big fraud and executive conspiracy meant to mortgage the future of the nation.

The PDP, in a statement issued on Tuesday by its National Publicity Secretary, Chief Olisa Metuh, queried President Buhari’s decision to borrow N2 trillion, the biggest in the history of the nation, saying it is the height of recklessness and deceit from a government that thrive on propaganda.

The party further berated the Federal Government for trying to use their bogus welfare programme and phantom capital projects as cover and conduit to siphon the funds to satisfy partisan interests, particularly to settle huge campaign debts.

“It is obvious that this budget is an extension of the campaign promises of the APC government, presented as a manifesto filled with bogus promises which implementation will be inconclusive, thereby allowing the APC to once again deny their promises.

“There has never been any known economy in the world where government deliberately mortgage the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus welfare programmes. This is moreso important as the APC, in reeling out their bogus campaign promises, never informed Nigerians that they would mortgage their future through excessive borrowing.

The party also said that it has it on good authority that this is the first in the series of APC borrowings which would leave the future generation of Nigerians under the burden of huge debts after four years, adding that the budget clearly shows that after seven months in power, President Buhari and his party, the All Progressives Congress (APC) are yet to differentiate between governance and campaign propaganda.

“By all standards, the 2016 budget, the first major economic policy outing of this government, is completely unrealistic and duplicitously embellished with impractical predications, a development that confirms fears by economy watchers and investors that this administration is obviously ill-equipped for governance, the party said.

The PDP statement further said it was shocked that President Buhari and his minister of information have come up with two different reasons for the current fuel crisis in the country, adding that though it appreciates the President’s apology, it said it was high time he called the information minister to order as his excessive propaganda and blame game are ridiculing the Buhari administration and the image of the nation.

“Furthermore, it is instructive to note the official endorsement of Mr. President to the devaluation of the naira as against his campaign promise of firming up the value of our currency even to the much vaunted one naira to one dollar. Does it mean that Mr. President lied his way to power, or that he did not understand the complexities of governance when he was making his false promises to Nigerians?” asked the PDP.

“In future, there is need to regulate campaign promises so that we will not end up with a government that promises to climb Mount Everest with bare hands and end up mortgaging our future with orchestrated borrowings.

“Finally, we want to request Mr. President to once again involve experienced and well-tested hands in the management of the economy and budgeting processes. This economy is not for Mr. President, neither is it for the APC. The progress of the economy is for all Nigerians and as such, due care should taken to save ourselves from unrealistic and deceptive programmes.”

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