The 2016 Budget Is Truly Democratic – Gbajabiamila

The 2016 Budget Is Truly Democratic – Gbajabiamila

While members of the Peoples Democratic Party (PDP) are strongly criticizing the 2016 budget, Femi Gbajabiamila, the leader of the House of Representatives, has described it as a truly democratic and called for its speedy passage.

The 2016 Budget Is Truly Democratic – Gbajabiamila

Femi Gbajabiamila

In a series of tweets posted on Wednesday, January 20, Gbajabiamila noted that the budget was historic because for the first time in recent history, 30% of the budget was dedicated to capital expenditure. However, he expressed hope that the 2017 capital expenditure would be further increased to 40%.

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According to Gbajabiamila, the budget is historical because it has a social intervention component.

The leader of the House of Representatives also noted that it will be the first time when domestic borrowing will be higher than foreign borrowing, which is another epic feature of the budget.

Meanwhile, Senator Eyinnaya Abaribe of the PDP has called on President Muhammaduu Buhari to withdraw the 2016 budget. He faulted the government for increasing spending by 30% based on borrowing, which he thought was too high.

Source: Legit

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