2020 Budget : Buhari submitted a dummy to us – Lawmakers
..Senators say allocation to education is miserably small
They queried why would the exchange rate be pegged at N305 when the dollar can only be obtained at N360.
Speaking at the Senate plenary on Wednesday, senator representing Abia-South Senatorial District of Abia State in the Senate, Enyinnaya Abaribe told the Red Chamber, “This is nothing but a budget of taxation.
“I urge the Senate to look at that fact, as it is not a sustainable budget.”
He hinged his reason on the ratio of debt servicing, compared to that of capital expenditure.
Abaribe argued, “Debt servicing is higher than capital expenditure. We are still struggling.”
A former Governor of Benue State who now represents Benue North-East Senatorial District at the Senate, Gabriel Suswam, supports Abaribe’s observation.
Suswam said, “I commend Mr. President for bringing an ambitious budget; the deficit worries me, there is a correspondence borrowing increase; we need to do something in this Chamber by way of legislation to address borrowing.”