The Senate Minority leader, Enyinnaya Abaribe, has described President Muhammadu Buhari’s 2020 budget as “a budget of taxation.”
The senator representing Abia South in the senate stated that the budget was not sustainable because debt servicing was higher than capital expenditure, noted that the country is currently struggling.
His words: “This is nothing but a budget of taxation. I urge the Senate to look at that fact as it is not a sustainable budget. Debt servicing is higher than capital expenditure.
“We are still struggling. I second the budget presentation by the Senate Leader.”
His colleague and former Governor of Benue State, Gabriel Suswam insisted that the borrowing methodologies by the current administration need to be addressed.
“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,” Suswam said.