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Friday, January 15, 2016

2016 budget is a carbon copy of Goodluck Jonathan's budget - Charles Soludo


 Prof. Charles Soludo has described the 2016 budget presented by President Buhari as a replica of the one by former president Goodluck Jonathan. The former governor of Central Bank of Nigeria (CBN) stated this while speaking at the 13th Daily Trust Dialogue in Abuja, on Thurs Jan 14.
"The present budget is more of the same to the previous ones. Mr. Vice President Prof. Yemi Osinbajo, If you scale your budget on the scale of GDP, it is almost the same with the previous government," 
"It has a historic 37% deficit as we never had it before. The truth is that you are borrowing 37% with only 30 per cent on capital projects",
"To craft the new agenda, we must defeat the old agenda. We cannot make progress in the country with the tools and agenda of the old," Soludo said  
He added that the APC-led government was over-following the fall in the price of crude oil globally and further advised the present administration of the need to evolve a coherent economic plan and agenda as well as the right political architecture, stressing that anything less than this would mean that the leaders are building on a quicksand.

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