fatherfaith

Published on Oct 11, 2019
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Just two days ago, the President of Nigeria, Buhari presented the proposed 2020 budget of N10.33 trillion (~$33.8billion) before the National Assembly.
As a concern citizen, I will like to share my opinion on the proposed budget.

Here is the breakdown:

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Presenting the proposed budget early is a good step and it shows the commitment of the Federal Government to the return to the January – December cycle for the federal government budgets.

My concerns

  • We need to find a way to address deficit issues. We cannot keep on borrowing.
  • The budget does not address unemployment. We need to find a way to make our people more productive
  • The exchange assumed to be 305 naira/dollar cannot be justified
  • Debt servicing and recurrent expenditure together make up 90% of the revenue
  • Increasing VAT by 50% to generate more revenue will inflict more pains to the poor citizens

Let me pause here to hear your opinions. I will love to hear what you all think about about the proposed budget in the comment section.
Thank you

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Tags :

nigeria budget newsteem steem government

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