Erstwhile Nigerian Vice President, Atiku Abubakar, has given his voice on the current economic challenges the country is facing just like that of other nations on the globe due to the Coronavirus pandemic. Nigeria, a country who’s economy solely depend...
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Erstwhile Nigerian Vice President, Atiku Abubakar, has given his voice on the current economic challenges the country is facing just like that of other nations on the globe due to the Coronavirus pandemic. Nigeria, a country who’s economy solely depends on oil export proceeds is currently facing crunch times as the demand for oil has waned in the global market, thus pushing the African giant to review its current annual budget and also go cap-in-hand for loans from international sources.
However, the country’s former Vice President and opposition candidate in the last presidential elections has come out to proffer solutions to the current challenges. Atiku Abubakar in an article released on Thursday was of the opinion that Nigeria should shelve excess luxuries in an austerity, strongly advising the government to first of all sell 8 or 9 of the jets in its Presidential Air Fleet. He further suggested that other excesses such as budgeting N27billion to renovate the National Assembly, the billions budgeted for feeding the President and his Vice, the massive budgets to run the Presidency and Parliament, salaries of political appointees and the budgets for purchasing luxury cars for political office holders must all be trashed.
On the issue of slashing the nation’s 2020 budget, Atiku frowned against the reduction from N10.594 trillion to N10.523 trillion, a mere N71 billion which represents only 0.6%, citing Saudi Arabia with a much more robust economy, global market share and production capacity than Nigeria’s but yet still went ahead to nip and tuck its own budget by a near 30%.