2017 budget laid on shaky foundation, says reps minority leader

Leo Ogor, minority leader of the house of representatives, says the 2017 budget was “laid on a shaky foundation from day one”.

On December 14, President Muhammadu Buhari presented the 2017 budget proposals of N7.3 trillion before a joint-session of the national assembly.

Buhari projected 2.2 mbpd and proposed N305 to a dollar as exchange rate among other parameters contained in the medium term expenditure framework (MTEF) and fiscal strategy paper (FSP).

Speaking at the resumed debate of 2017 budget proposals on Thursday, Ogor said the assumptions “are clearly wrong”.

“2017 budget is laid on a shaky foundation from day one. This is a budget that may not take us out of recession,” he said.

“As a good lawmaker, the government should look at diversification closely. When the budget is at committee stage, the appropriation committee should fine tune the budget.”

Contributing to the debate, Pally Iriase, deputy whip of the house, described it as “a reflationary budget” which would cure infrastructural deficit and unemployment.

“Capital allocation addresses all the concerns. The budget represents 48 percent increase for the provision made for agriculture in the 2016 budget,” he said.

“Education has 38 percent more than what was provided for last year.”

While urging his colleagues to cooperate with the executive on the budget to move the country forward, Iriase said it catered for all aspects of the economy.

Other lawmakers who also contributed to the debate said priority should be given to small and medium enterprises as this would boost the economy.

The house passed the 2017 appropriation bill for second ready after Yakubu Dogara, the speaker, put it a voice vote.