By Sanni Azeezat Opeyemi (SIWES Student,
Gateway Polytechnic Saapade)
The Peoples Democratic Party (PDP) rejects the N27.5 trillion Appropriation Bill, labeling it deceptive and forecasting increased economic depression and hopelessness, according to Debo Ologunagba, the National Publicity Secretary.
The opposition contends that the bill, dubbed a Budget of Renewed Hope, lacks substantial plans for job creation and economic revitalization.
Urging the National Assembly to reject the bill in its current state, they call for legislative amendments addressing the country’s urgent economic needs.
The PDP’s statement raises concerns about the 2024 budget, alleging inflated figures, duplicated items, and misleading statistics.
The opposition asserts that the budget prioritizes luxury expenses for the Presidency and the APC, funded through foreign loans and heightened taxes on Nigerians.
They express doubts about the budget’s sustainability and achievability, given the country’s existing debt and planned borrowing.
With allocations of N9.9 trillion, N8.7 trillion, and N8.25 trillion for recurrent expenditure, capital expenditure, and debt services respectively, the PDP deems the figures unsustainable, emphasizing a focus on consumption, luxury spending, and debt servicing.
They criticize the Tinubu-led APC government for lacking concrete action plans to revive key sectors like manufacturing, energy, agriculture, and education.
The PDP advocates responsible leadership to defend the national currency, proposing transparent resource management for economic turnaround and a stronger Naira.
Criticizing the N750 to US Dollar exchange rate for 2024, they view it as a failure by the APC-led government, undermining promises to strengthen the Naira and adversely impacting the economy, particularly for small businesses and startups.
Characterizing President Tinubu’s 2024 budget as reflective of hopelessness for Nigerians, the PDP condemns the proposal for not aligning with the constitutional duty of ensuring the security and welfare of the Nigerian people.
They express hope for a future where leaders prioritize the citizens’ needs.
