- Demands proper scrutiny, expunging of wasteful spending and ‘paddings’
The Centre for Anti-Corruption and Open Leadership (CACOL) has requested the Acting President, Professor Yemi Osinbajo, to refrain from assenting to the 2017 budget passed by the National Assembly last week. The group advised the Acting President to ensure proper scrutiny is done to eliminate wastages from the budget before assenting to the Appropriation Act passed by the legislature.
“we find it extremely pertinent to call on you to properly scrutinize the recently passed 2017 Appropriation bill by the National Assembly with a view of expunging ‘paddings’ and wasteful spending on frivolities. In particular, we call for close scrutiny of the jerking up of the original budget estimates proposed to NASS by the Executive up to the tune of N145 billion,” CACOL declared.
CACOL in an open letter by Debo Adeniran, Executive Chairman, to the Acting President protested that from preliminary expert analysis of the Appropriation Bill 2017, the budget is not sustainable considering that 24% of the whole estimates, about N1.84 trillion is targeted for debt servicing.
“This, in our view, will further batter our already cumbersome debt profile and will inadvertently hinder the prioritization of the fundamental needs of the country on the order of scale of preference and opportunity costs. With deficit financing standing at N2.35 trillion, the debt service is about 36 per cent of our expected revenue, making capital vote of 29.30 per cent just above debt service, the group argued.
CACOL also observed that the analysis of the budget also reveals that the N1.84 trillion budgeted for debt servicing is higher than the N1.34 trillion proposed for 10 Federal Ministries!
“One of the most alarming aspect of the budget is, perhaps, demonstrated in the insensitiveness to the sufferings and very pressing needs of the people, made very manifest by the N13 billion proposed for ‘refreshments, travels and welfare’ for the National Assembly. These are legislators that are too ‘embarrassed’ by their humongous remunerations such that they have to shroud it in secrecy as it were, but are yet to satiate their gluttonous tendencies and thus apparently looking for means to corruptly enrich themselves more. In this parlous state of economic recession with the accompanying pangs and pains of majority of Nigeria, this totally defiles logic and is thus unacceptable,” CACOL declared.
The group, thereafter, called on the Executive to take a cue from the experience of the 2016 Appropriation and the padding episode so as not to fall in the same pit where the Appropriation bill 2017 would have been assented to only to discover later that the whole document was riddled with booby-traps of corruption set by the incurably depraved elements in the corridors of power.
“We hasten to state unequivocally that, should the budget be assented to, as passed by legislators by the Acting President, then, it would only confirm that the Executive and the Legislature are in cahoots to continue to keep the vast majority of Nigerians in perpetually in pains.
“We conclude, therefore, by calling on the Acting President not to assent to a budget that prioritize the insatiable greed and the self-aggrandizing ends of the political class over the existential needs of class of the downtrodden, the oppressed and exploited who are the majority.
Yours in service to humanity,” Adeniran maintained.
Business5 days ago
Business6 days ago
Politics4 days ago
Trending Stories7 days ago
Latest1 week ago
Business3 days ago
News3 days ago