A Senator has warned that the administration of President Muhammadu Buhari might soon be toppled, with regards to the management of the economy.
At the Budget debate which began on Wednesday, Senator Enyinnanya Abaribe, representing Abia South senatorial district, said the Buhari government has failed and there is need for it to be taken over and the economic policies of the present administration redirected.
“I want to suggest a name to those who wrote this speech for the president that this is nothing but a budget of taxation,” Abaribe said before being interrupted by the Senate President, Ahmad Lawan, who cautioned him to stop the attack.
“I just want to appeal to you to talk to what was read in the budget speech,” the top lawmaker advised his colleague.
Continuing from where he stopped the Abia lawmaker who is the Minority leader of the upper legislative chamber, re-emphasised the proposed name he gave to the budget and described it as unsustainable.
“This is a budget that is based on taxation. Its is based on 7.5 per cent increase in VAT, based on several other increases,” he said querying, “How would you talk about job creation when you do not invest in what will create jobs? Debt servicing as a component is higher than capital expenditure. Two trillion for capital expenditure, 2.4trn for debt servicing."
Abaribe added that it is time for the red chamber to take over from the executive whom he said have failed.
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