Former Aviation Minister Chief Femi Fani- Kayode has described the 2016 budget presented by President Muhammadu Buhari to the joint National Assembly as insincere and will result in no good but further plunge Nigeria into debt, His words:
“The 2016 budget is fueled by insincerity, shrouded in fantasy, built on tall dreams and spawned by deceit, ignorance and the illusion of change. It is bloated, unrealistic, expensive, cosmetic and it will not result in anything good.
The Peoples Democratic Party (PDP) speaking through its National Publicity Secretary, Chief Olisa Metuh, has described the N6.8 trillion 2016 federal budget presented by President Muhammadu Buhari on Tuesday as a big fraud and executive conspiracy tailored towards mortgaging the future of the nation, they said:
“There has never been any known economy in the world where government deliberately mortgage the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus welfare programmes. This is moreso important as the APC in reeling out their bogus campaign promises never informed Nigerians that they would mortgage their future through excessive borrowing.
“We have it on good authority that this is the first in the series of APC borrowings which would leave the future generation of Nigerians under the burden of huge debts after four years”
However founder of the Lagos Business School,renowned political economist and social analyst, Prof Pat Utomi, while speaking on Sunrise Daily, a breakfast programme on Channels Television, described the Nigerian budget system as a joke, not specifically referring to the 2016 budget but how budget have been handled by past leaders, his words:
“For more than fifteen years I don’t discuss budget in Nigeria, because I consider the budget process as a joke,” he said. “Twenty years ago, I was one of those who began in January by analysing the budget and then you come to December, and you see the problem of implementation. And after a couple of years, I said this is rubbish. I am not going to talk about budget anymore, because we somehow do not have the discipline of the budget process.