Former Senate Leader, Senator Ali Ndume, All Progressives Congress, APC, Borno South, has taken a swipe at moves by the Federal Government to finance the 2022 budget by borrowing more, saying it is worrisome. He also urged government to cut down personal and recurrent costs.
Ndume further asked the Presidential Economic Advisory Committee and finance experts to be actively involved in debt management and re-evaluation of Nigeria’s debt profile.
In a statement issued in Abuja, Ndume who is the Chairman of Senate Committee on Army asked President Buhari to pay more attention to the effective, trans[1]parent, and accountable implementation of the bud[1]get by Ministries, Departments and Agencies, MDAs. He also called on the National Assembly to be more active in the discharge of its oversight functions to ensure effective implementation of the budget.
The lawmaker also hailed President Buhari for prioritizing defence and security, infrastructure, education, Mhealth, poverty eradication and social development in the 2022 Budget proposal.
According to him, the prioritization of spending on defence and security, infra[1]structure and education by President Buhari with the sectors getting a combined N5.15 trillion allocation in the Budget proposal is a welcome development.
He said the 2022 budget estimate when passed and effectively implemented can accelerate the recovery of the nation’s economy and attain more inclusive GDP growth that would lift mil[1]lions of our citizens out of poverty.
He said that in the proposal, the estimated budget for recurrent expenditure for the projected year which is N6.83 trillion, representing 41.7% of total expenditure which is 18.5% higher than the 2021 budget is still on the high side.