Newspaper review for October 10: 2020 budget projects unrealistic - Senators
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Newspaper review for October 10: 2020 budget projects unrealistic - Senators

The headlines of mainstream Nigerian newspapers for Thursday, October 10, are focused on Senate's view of the presented 2020 budget, President Muhammadu Buhari's comment on the inaccuracy of some data by International Monetary Fund (IMF), World Bank, among other stories.

The Guardian reports that senators on Wednesday, October 9, faulted the N10.33 trillion 2020 budget that was presented by Buhari, saying it lacks the features to bring about economic growth.

The members of the upper chamber also said that they would take control and direct the economy the way it should be.

Yahaya Abdullahi, the Senate minority leader, said the capital budget to the Gross Domestic Product (GDP) is not enough.

The Guardian newspaper review of October 10

The Guardian newspaper review of October 10
Source: UGC

Vanguard reports that some senators on Wednesday, October 9, criticised the budgetary projections by the president, saying they are unrealistic.

The senators who were from different political parties said that taxation as a means of revenue for the budget is uncalled for at a time many are economically weak in the country.

Vanguard newspaper review of October 10

Vanguard newspaper review of October 10
Source: UGC

The Punch reports that the National Assembly began a serious debate on the principles surrounding the 2020 budget as many doubted its capacity to counter the nation's ailing economy.

Though some senators dismissed the need to borrow and the money needed to service already taken loans, a few members of the House of Representatives asked for job creation through the government's Social Investment Programme.

The Punch newspaper review of October 10

The Punch newspaper review of October 10
Source: UGC

The Nation reports that Buhari on Wednesday, October 9, said that some of the data on Nigeria by international organisations like IMF and World Bank are not reliable.

The president therefore called for homegrown solutions to the country's problems as he added that accurate data is very much needed for policy making.

The Nation newspaper review of October 10

The Nation newspaper review of October 10
Source: UGC

This Day reports that the World Bank and IMF on Wednesday emphasised the need for structural reforms as a way to speedup Nigeria's economic revival.

The international institution's advice was offered the same day President Buhari dismissed some of their data on the country as being unreliable.

This Day newspaper review of October 10

This Day newspaper review of October 10
Source: UGC

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