Business & Economy Digital PR Economy News Public Affairs PR

Recession: Nigeria Is Broke, Can’t Afford 2021 Budget – Atiku

Former Vice President of Nigeria, Alhaji Atiku Abubakar has advised the executive that the 2021 proposed budget is no longer tenable and should be reviewed in the interest of the Nigeria’s economy.

He argued via a tweet on his verified Twitter handle that Nigeria is broke and cannot afford the luxurious items he categorized as ‘non-essential’ in the N13.08 trillion budget proposal

The advice is coming as Nigeria just slided into a second recession in 5 years following 2 successive negative quarters growth which portend a negative trend to our economy.

Atiku in a Twitter thread on Sunday (Today) stated that COVID-19 only complicated an existing economic problem.

“We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions.

“For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable.

#“Nigeria neither has the resources nor the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation to being a broken nation.

Related posts

Barcelona Sign New Four-Year Deal With Unicef

Desmond Ekeh

Goodluck Jonathan Gets New Appointment

Desmond Ekeh

FCMB Celebrates Customer Service Week with “Dream Team”

Desmond Ekeh

Leave a Comment