President Muhammadu Buhari on Tuesday in Abuja presented about N8.612 trillion as the 2018 Appropriation bill to a joint session of the National Assembly, saying the projected expenditure would drive rapid economic recovery.
He said at the session that with a benchmark of 45 dollars per barrel at an exchange rate of N305 to a dollar in 2018, the budget would consolidate on the achievements of previous budgets to aggressively steer the economy to the path of steady growth.
However, former Director of New Media for the Peoples Democratic Party, PDP, and Convener, Concerned Nigerians, Prince Deji Adeyanju has described as illogical the budget presented as the 2018 Appropriation bill, saying there are no projects to show that previous budgets were implemented. He said the President cannot account to what he said is the over N11trn proposed for both 2016 and 2017.
According to Adeyanju, “How can Buhari present 2018 budget when he can’t account for N11trilion from 2016 & 2017?”
"N6.8tr in 2016, N7.4tr in 2017, Now, N8.612tr for 2018, There are no projects in any part of the country by this government.
"What did you do with 2016 budget? What did you do with 2017 budget? Where is the N11trillion or the projects constructed?
How can Nigeria develop like this? A budget of N8.6trillion, only N2.4trillion on Capital expenditures. That’s money they are going to loot.
