Senate

Senator Enyinnaya Abaribe, has hit out at President Muhammadu Buhari over his proposed 2021 budget of N13.08 trillion presented to a joint session of the national assembly.

The minority senator stated this on Tuesday during a debate on 2021 budget estimates, where he cited that the alleged budget is unrealistic.

The budget is based on an exchange rate benchmark of N379/$ and crude oil production of 1.86 million barrels per day (including 400,000 barrels of condensate) at $40 per barrel.

However, the minority leader said the budget is “nothing but old news.”

“This budget is nothing but the same. We have a budget based on unrealistic expectations. We are not also so sure what the oil situation is going to be,” he said.

“If the budget is based on assumption, I agree but why are not assuming properly. I want to go ahead and say it does not reflect the understanding of the fundamental challenges of today.

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“This budget is nothing but old news. Every time the same old news, nothing new.”