Senate plenary was rowdy yesterday when lawmakers debated this year’s budget. Controversy surrounding the budget was resolved on Tuesday following the reading of President Muhammadu Buhari’s letter clearing some issues in the document.
But, it was a different ball game in the House of Representatives which highlighted its stimulus capability when lawmakers commenced the consideration of the budget.
Trouble started when Senate Leader Ali Ndume opened debate which commenced at about 11:00am. The first shot came soon after Ndume concluded his remarks. Senator Eyinnaya Abaribe led the offensive against the budget when he compared it with the 2015 edition brought in by former president Goodluck Jonathan..
Abaribe said though it is captioned, ‘Budget of Change’, it is a change in the wrong direction. He criticised plans by the Federal Government to borrow almost 30 per cent to fund the budget.
“It is a budget of change I agree, but it is a change in the wrong direction. I say it is change in the wrong dierection because it says that it is based on zero budgeting requiring all expenses to be fully justified.
“Mr. President, a budget that increases spending up to 30 per cent based solely on borrowing, in what way is it justified? That is the question we want to ask the people who brought this budget as change.
We ask a question: this budget has moved the 2015 budget from 4.45 trillion to N6 trillion and we felt that moving it on zero based budgeting should actually show how it is done.
“It also increases the spending that is due for renovations within the Villa. They are going to renovate the Villa with N3.9 billion. What else do you want to renovate there that Nigerians will see in the year 2016? We know what is going on in the global economy. This budget is predicated on an oil benchmark of $38 per barrel and I can now say that with oil being $28 today, this budget is dead on arrival,” Abaribe said.
Senate Committee Chairman on Defence, Ahmad Lawan, who defended his president and party, blamed the PDP for the nation’s woes. He said, unlike in the past, President Buhari’s budget seeks to put the interest of Nigerians first. He was, however, countered by the Senate Minority Whip, Philip Aduda, who said: “Something needs to be done. Enough of these rhetorics.
Deputy Senate President Ike Ekweremadu urged the Senate to reduce the budget by at least 20 per cent to conform with global economic realities.
Leading the debate on the bill in the House, Majority Leader Femi Gbajabiamila, said the mere injection of N6.08 trillion, which is the sum total of the 2016 budget, will stimulate the struggling economy.
This is even as he noted that the priority areas in the budget have huge potential for job creation.
Gbajabiamila stressed that with Works, Power and Housing receiving N433. 4 billion, Transport-N202 billion, Defence-N134.6 billion, Interior-N53.1 billion as well as Agriculture and Solid Minerals receiving adequate attention, the country’s economy is on the path of recovery.
He said: “It is trite economic principles and Economy 101, that when there is a downturn in the economy, you rejig or stimulate the economy by pumping more money into it.
“We cannot argue with these priority areas which support this government’s long term objectives of sustainable development and job creation. When you increase your capital expenditure, you create jobs”
Despite criticism of the projected budget deficit, Gbajabiamila described the funding plan of the N2.2 trillion borrowing as workable..
THE SUN NEWSPAPER
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