A People’s Democratic Party senator, Mao Ohuabunwa, Tuesday called for the Nigerian senate to “jack up” the 2019 budget by 10 trillion Naira.

“Instead of reducing, we should ‘jack up’ the budget by 10 trillion,” Ohuabunwa said during the plenary.

The 2019 appropriation bill sent by the President is N8.82 trillion. The spending list, N8,826,636,578,915, has a recurrent expenditure of N4 trillion while N2 trillion goes for capital expenditure with N2.2 trillion and N492 billion for debt servicing and statutory transfers respectively.


Ohuabunwa complained that the two trillion naira allocated to the capital expenditure is not enough due to the various ongoing projects.

“What can two trillion do when we have ongoing projects,” he questioned.

“We need to block leakages and ensure taxes are collected and put into good use in the economy such as the Basic Health fund which Senate President, Bukola Saraki started,” Ohuabunwa added.


“We are consolidating poverty. We need to really look at this budget. Instead of reducing, we should ‘jack up’ the budget by 10 trillion. What can 2 trillion do when we have on going projects.”- Senator Mao Ohuabunwa.

— The Nigerian Senate (@NGRSenate) March 19, 2019

However, Senator Enyinnaya Abaribe while reacting to the budget said, “With a total debt service of 25.7% and capital budget at 23%, it means we are paying more debt.

“This is a budget of impossibilities. Out of every 1 Naira, 68kobo is paid out. The Federal Government needs to go back to the drawing board,” he added.

Meanwhile, the Senate passed the appropriation bill for a second reading on Tuesday.


Senators, last Wednesday, commenced the debate on the budget with some of them expressing fears about the “high level of debt” the country was getting into.

Some of the senators expressed reservations about the plans by the government to borrow from both internal and domestic sources to fund the 2019 budget.

The senators said should Nigeria continue to borrow money to fund the deficits in her annual budgets, the country would be hugely indebted in the end without any means to repay.

After the second reading of the bill, it was referred to relevant committees of the Senate for further action.

https://www.akelicious.net/2019/03/pdp-senator-calls-for-2019-budget.html

You no see him mouth. Thats what we know them for. Ole jatijati.

V

Athiefkulated senator

10 trillion. The way you guys call money sometimes is very funny. There are some money you don't call anyhow, this is one of it. They want to jack it up so as to jack up their allowances.

Ah God!

We need a strong, INCORRUPTIBLE and UNCOMPROMISING military rule in this country!

Na STRONG HAND fit us.

Thieves

Election don format this one brain

Then name it 'Quasi Quasi Modo'.

yemmight:
You no see him mouth. Thats what we know them for. Ole jatijati.

Coupled with his pot-bellied stomach.

See them

This is why When am drunk I become very alert before crossing the road. I look left and right for cars and bikes, then i look up for aeroplanes and down for bombs, I look back for kidnappers and after that I hold my beer tight and walk zigzag to avoid bullets.

₦1 Billion would go a long way in helping lots of people

edunwablog:


A People’s Democratic Party senator, Mao Ohuabunwa, Tuesday called for the Nigerian senate to “jack up” the 2019 budget by 10 trillion Naira.

“Instead of reducing, we should ‘jack up’ the budget by 10 trillion,” Ohuabunwa said during the plenary.

The 2019 appropriation bill sent by the President is N8.82 trillion. The spending list, N8,826,636,578,915, has a recurrent expenditure of N4 trillion while N2 trillion goes for capital expenditure with N2.2 trillion and N492 billion for debt servicing and statutory transfers respectively.


Ohuabunwa complained that the two trillion naira allocated to the capital expenditure is not enough due to the various ongoing projects.

“What can two trillion do when we have ongoing projects,” he questioned.

“We need to block leakages and ensure taxes are collected and put into good use in the economy such as the Basic Health fund which Senate President, Bukola Saraki started,” Ohuabunwa added.


“We are consolidating poverty. We need to really look at this budget. Instead of reducing, we should ‘jack up’ the budget by 10 trillion. What can 2 trillion do when we have on going projects.”- Senator Mao Ohuabunwa.

— The Nigerian Senate (@NGRSenate) March 19, 2019

However, Senator Enyinnaya Abaribe while reacting to the budget said, “With a total debt service of 25.7% and capital budget at 23%, it means we are paying more debt.

“This is a budget of impossibilities. Out of every 1 Naira, 68kobo is paid out. The Federal Government needs to go back to the drawing board,” he added.

Meanwhile, the Senate passed the appropriation bill for a second reading on Tuesday.


Senators, last Wednesday, commenced the debate on the budget with some of them expressing fears about the “high level of debt” the country was getting into.

Some of the senators expressed reservations about the plans by the government to borrow from both internal and domestic sources to fund the 2019 budget.

The senators said should Nigeria continue to borrow money to fund the deficits in her annual budgets, the country would be hugely indebted in the end without any means to repay.

After the second reading of the bill, it was referred to relevant committees of the Senate for further action.

https://www.akelicious.net/2019/03/pdp-senator-calls-for-2019-budget.html

Senator mao,if I box you..

Oh boy?

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10 Trillions more. is that how the U.S, China,Russia and the likes does theirs??

The suggested increment was meant to increase capital project expenditure, therefore makes sense.

Omoluabi9:
Ah God! We need a strong INCORRUPTIBLE and UNCOMPROMISING military regime in this country!

Na strong hand fit us.

Military is compromised

Even though the topic is annoying i am taken aback by senator Abaribe's comment!

“With a total debt service of 25.7% and capital budget at 23%, it means we are paying more debt.

What kind of mess has APC put us in?
Who borrows to feed primary school children, gv 5000 to poor ppl when our basic infrastructures is in comatose?

See abaribe analysis and I'm convinced that this country is finished

yemmight:
You no see him mouth. Thats what we know them for. Ole jatijati.

MY BROTHER THE SENATOR IN QUESTION WAS ONLY MAKING A JEST ON THE BUDGET.IF U KNOW,U KNOW

There is gross fiscal indiscipline among the three tiers or strata of governments therefore the increase always favours political elites more than any class.

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The N8.8 trillion is is largely on loan. You want us to us to be more indebted?

Both the legislative and executive arms are lazy planners. They can generate more money in excess of N20 trillion annually to fund the budget.

Ohuabunwa complained that the two trillion naira allocated to the capital expenditure is not enough due to the various ongoing projects.

This is a PDP senator,but Dino Melaye was barking the other time about this same budget

Jack up again

If we tell them ogogoro no good, dem go start to dey wail ... Anyways can d senator tell us how we can generate 10 trillion in a very short time to accommodate d 2019 budget?