Tuesday, September 26, 2023
  • About
  • Advertise
  • Careers
  • Contact
-18 °c
Drum Africa News
Advertisement
  • Home
  • Business
  • Entrepreneurship
  • Tech
  • Lifestyle
  • Sports
  • Opinion
  • Election Watch
No Result
View All Result
  • Home
  • Business
  • Entrepreneurship
  • Tech
  • Lifestyle
  • Sports
  • Opinion
  • Election Watch
No Result
View All Result
Drum Africa News
No Result
View All Result
Home Politics

Saraki: 2019 Budget lacks hope

Senate President Jabs Buhari on 2019 Budget

Drum Africa News by Drum Africa News
December 21, 2018
in Politics
58
0
196
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

 

Abubakar Bukola Saraki, Nigeria’s Senate president says the 2019 budget presented by President Buhari to the National Assembly lacks hope.

Saraki said the figures in the budget underlined the hopelessness of the document. He was speaking during an event where the main opposition candidate, Atiku Abubakar was meeting with civil society groups.

The budget is the fourth Buhari has presented to parliament since taking office in 2015 but, unlike the others, did not set record high levels of spending as the government seeks to lower debt.

“Yesterday, we all read the 2019 budget, that is a Budget that has no hope for anybody, if you look at the numbers,” Saraki noted.

He also projected a loss for Buhari in the upcoming polls on the back of poor economic management. “February 16th (2019) is the day Nigerians will make their decision on this government, but the business sector voted already, you know how? There’s no investment and jobs are being lost.”

Saraki until July this year was a member of the ruling All Progressives Congress, APC. He defected to the main opposition Peoples Democratic Party, PDP, citing failure by the APC to deliver on its promises.

He contested for the PDP presidential ticket but came a distant third behind eventual winner and former vice president Atiku Abubakar who is Buhari’s biggest challenger at the upcoming polls.

Buhari presented a 8.83 trillion naira ($28.80 billion) budget for 2019 to parliament laying out a plan to drive growth two months before elections.

The spending plan for Africa’s top oil producer assumes crude production of 2.3 million barrels a day, an oil price of $60 per barrel and an exchange rate of 305 naira to the dollar.

Buhari’s handling of the economy – which emerged from its first recession in 25 years this year but remains sluggish – has become a campaign issue.

The main opposition candidate, businessman and former vice president Atiku Abubakar, has criticized Buhari’s economic policies and has promised to double the size of the economy to $900 billion by 2025 if elected.

The spending plan is smaller than the record 9.12 trillion-naira budget for 2018 that he signed into law in June. The budget must still be approved by parliament before it can be signed into law, a process that can take many months.

Nigeria’s economy grew by 1.81 percent in the third quarter of this year, the statistics office said last week. And, in a separate data release days later, it said the inflation rate rose slightly in November to 11.28 percent compared with a year ago.

 

Tags: 2019 budgetAPCatiku abubakaBuharihopelessPDPsarakisenate president
Previous Post

SHOCKING: Teenager Killed a Boy for Ritual

Next Post

Buhari to Police: Prevent snatching of ballot boxes

Related Posts

YPP Deputy Governorship Candidate, Dr. Chima Anyaso Congratulates Rep. Benjamin Kalu
National

YPP Deputy Governorship Candidate, Dr. Chima Anyaso Congratulates Rep. Benjamin Kalu

February 27, 2023
‘You don’t need to know the INEC REC to win any Election in Abia State’- Hon. Benjamin Kalu.
Politics

‘You don’t need to know the INEC REC to win any Election in Abia State’- Hon. Benjamin Kalu.

March 23, 2021
Aba North/South Constituency Elections: APC Pledges non-violence
Politics

Aba North/South Constituency Elections: APC Pledges non-violence

March 23, 2021
Next Post

Buhari to Police: Prevent snatching of ballot boxes

[jnews_footer_social compatible_column_notice="" icon_background="#e0e0e0" icon_text_color="#666" icon_hover_background="#fcb11e" icon_text_hover_color="#191818"]

Categories

  • Africa
  • All
  • Business
  • Economy
  • Education
  • Election Watch
  • Entertainment
  • Entrepreneurship
  • Fashion
  • Guide
  • Health
  • Inspiration
  • Lifestyle
  • Market
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Tech
  • Travel
  • Uncategorized
  • World

Get our Newsletters

  • About
  • Advertise
  • Careers
  • Contact

© 2019 Drum Africa News - delivering the sounds of Africa.

No Result
View All Result
  • Home
  • Business
  • Entrepreneurship
  • Tech
  • Lifestyle
  • Sports
  • Opinion
  • Election Watch

© 2019 Drum Africa News - delivering the sounds of Africa.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.