TRENDING ROBBERY AGAINST NIGERIANS IN 2016 BUDGET:
‘Gowon, IBB, OBJ, Jonathan, Seven former presidents to share N2.3billion’–President BUHARI
*Says: “N7.875 billion to be Shared as Allowance for 30,000 Niger Delta Ex-militants”
* Operational cost- N1. 834 billion; Reintegration of transformed ex-militants- N10.291 billion
*N200 billion on Special Capital Projects, N20 billion as sinking Fund for Infrastructural Dev. *Governors to collect N5.5billion for Federal Road Repairs, N5.5billion for Local Contractors
*Act shows erstwhile Presidents/Head of state collects N350,000 per month as Entitlement
*N250,000 Monthly Allowance for Atiku, Diya, other ex-Vice Presidents/Chiefs of Gen. staff
*Deficit to be financed by Domestic Borrowing N984 billion, Foreign Borrowing N900 billion
* FACT on 186 Million Nigerians: Over 61 Percent Poor, Lives on $5 Meals per Day
* The Act states: “As from the commencement of this Act, all former-Presidents and Heads of State of the Federal Republic of Nigeria (in this Act referred to as “former Heads of State”) shall be-(i) paid the sum of N350,000 per month as up-keep allowance; and (ii) entitled to the perquisites of office specified in Part I of the Schedule to this Act; and (b)Vice-Presidents and Chiefs of General Staff of the Federal Republic of Nigeria (in this Act referred to as “former Vice-Presidents”) shall be- (i) paid the sum of N250,000 per month as up-keep allowance…”
BY TOPE ADEWUSI/BUSSINESS EDITOR, Lagos & ONYEMA ANACHUCKWU/POLTICAL EDITOR, Abuja
FROM all indications, in the face of the prevailing economic hardship in Nigeria where the President Muhammadu Buhari’s administration is being led by the advice given from Godwin Emefiele, the Governor of Central Bank (CBN) that his ‘Bitter Pill, Longer Economic Benefits’ will bring prosperity to Nigeria is akin to delusional grandiosity, a far cry from reality; as recent discovery of the 2016 Budget submitted to National Assembly by the Nigerian presidency showed systemic phases where government bound by Oath of giving basic amen ties to the people begin to share the nation’s wealth under various formula.
In a country of over 186 million people, where poor people which form the over 61 percent of the population live on $5 meals per day, many economic observers see the content of the 2016 Budget as sharing of Nigeria’s wealth among the tiers of government, perceived in many circles as ‘Modern robbery against the Nigerian masses.’
According to this 2016 Budget which was presented by President Buhari to the National Assembly document, 11 former Presidents, Heads of State and former Vice Presidents/Chiefs of General Staff are to share N2.3 billion as entitlements in 2016. The former Presidents and former Heads of State are General Yakubu Gowon, Alhaji Shehu Shagari, General Ibrahim Babangida, General Abdulsalam Abubakar, General Olusegun Obasanjo, and Goodluck Jonathan.
The former Vice Presidents and former Chiefs of General Staff are Dr. Alex Ekwueme, General Oladipupo Diya, Alhaji Abubakar Atiku and Alhaji Namadi Sambo. Going by the revelation into the Act which provides for the remuneration of former Presidents and former Vice, each former President and former Head of state is entitled to N350,000 per month, while former Vice Presidents and former Chiefs of General Staff are entitled to N250,000 per month for their up-keep.
As stated in the Act: “As from the commencement of this Act, all former-Presidents and Heads of State of the Federal Republic of Nigeria (in this Act referred to as “former Heads of State”) shall be-(i) paid the sum of N350,000 per month as up-keep allowance; and (ii) entitled to the perquisites of office specified in Part I of the Schedule to this Act; and (b)Vice-Presidents and Chiefs of General Staff of the Federal Republic of Nigeria (in this Act referred to as “former Vice-Presidents”) shall be- (i) paid the sum of N250,000 per month as up-keep allowance; and (ii) entitled to the perquisites of office specified in Part II of the Schedule to this Act.
“National Assembly to spend N175bn Meanwhile, N115 billion was allocated to the National Assembly in the 2016 budget. This is besides N60 billion allocated for constituency projects. Under the budget, the federal government plans to spend N20 billion on the Presidential Amnesty Programme which include stipends and allowances of 30,000 Niger Delta Ex-militants- N7.875 billion; Operational cost- N1. 834 billion; Reintegration of transformed ex-militants- N10.291 billion. Furthermore, the Federal government allocated N200 billion for special capital projects, and N20 billion as sinking Fund for Infrastructural Developments. N5.5 billion to be paid to state governments for repairs of federal roads, while local contractors are to be N5.5 billion.”
Without giving a damn on the reality of how obviously ‘sinking Nigeria’s economy’ would be able to implement the 2016 Budget wealth sharing, President Buhari presented to the National Assembly, a N6.08 trillion budget for 2016 which comprises recurrent expenditure of N2.65 trillion and capital expenditure of N1.8 trillion.
According to Aso Rock, Nigeria’s seat of power, the budget is based on projected revenue of N3.86 trillion and deficit of N2.22 trillion. The deficit is to be financed through domestic borrowing of N984 billion, and foreign borrowing of N900 billion, totalling N1.84 trillion.
Few economic experts have described Nigeria’s 2016 Budget as ‘Unrealizable, Unrealistic, Unthinkable and Bizarre.’ Lawal Yinusa, a Nigerian professor of economics in University of South Africa (UNISA) said: “The Nigeria’s 2016 Budget is solely designed to make a set of people in Nigeria richer, the poor poorer, while the poorer continually suffer the inflationary blunders of bad governance. The 2016 Budget will continue to ensure Nigeria is a debtor-nation. Sadly, they are always borrowing money. Question is: all the money they are borrowing, are they used for its lined out purposes? Most times, the answer is NO, because they will line their pocket with it. How will the government generate the projected fund to finance the budget? With the shameful down-sliding of Nigeria’s currency (Naira) in the Foreign exchange market (Forex), I doubt if over 61 percent poor Nigerians are not living below $5 meals per day. No sane government succeeds, stabilizes economically by borrowing and wastefully sharing the money.”
For Sunday Aloye, a Nigerian Economist resident in Washington DC, he lambasted President Buhari’s government by saying: “I hold President Buhari in highest regards, but he has fully disappointed me with his shallow economic policies as reflected in 2016 Budget. Do you know how much money former president Olusegun Obasanjo handed out to his political friend, a contractor, Tony Anenih for federal roads repair when he was in power? No single road was repaired and then Anenih squandered the sum of N300 billion as then Transport Minister. Many state governors are not reliable, accountable. Quote me, once President Buhari disburse N5.5 billion to them for Federal road repairs, you will see nothing of such project done. Rather, what you will see is a 1kilometer road, or 5 kilometer road padded with fake materials that becomes death-traps for the people. As at today, One United States dollar sells in Forex for over N400, without any economic idea to confront the currency slump by CBN. What sort of economy depends on importation of every products from Overseas? It is a shame.”
*Additional Reports by Vanguard Newspapers
