Atiku Abubakar faults Buhari's 2021 proposed budget

 


Atiku Abubakar has faulted the proposed budget for 2021 presented by President Buhari to the joint session of National Assembly on Thursday. He claimed the proposed budget flouted the Fiscal Responsibility Act. In a statement he personally signed, it was accentuated that the N5.21 trillion budget deficit aggregated to over 3.5 percent of Nigeria’s 2019 GDP.

In a signed statement presented to journalist on Friday, Abubakar stated:

“Looking at the 2021 budget proposal placed before the National Assembly by the President Muhammadu Buhari on Thursday October 8, 2002, a number of issues, very grave and perhaps disturbing issue arise.


“This is contrary to Fiscal Responsibility Act of 2007, which provides in Part II, Section 12, subsection I that: ‘Aggregate Expenditure and the Aggregate amount appropriated by the National Assembly for each financial year shall not be more than the estimated aggregate revenue plus a deficit, not exceeding three per cent of the estimate Gross Domestic Product or any sustained percentage as may be determined by the National Assembly for each financial year”





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