The Abundant Nigeria Renewal Party (ANRP) has advised the Federal Government to increase the 2019 budget to N15 trillion to improve the lives of Nigerians.
The Presidential Aspirant of the party, Mr Tope Fasua, gave the advice during a news conference on Saturday in Abuja.
According to him, in gross the 2019 budget is smaller than the budget for 2018 by over N200 billion. “It was reported in the newspapers that the federal government of Nigeria in its fiscal strategy paper is planning a budget of N8.9 trillion for the people of Nigeria for the year 2019. Nigeria’s population grows at about three per cent per annum. This means that an extra five or six million mouths are added to the response of government each year”.
“The 2019 budget and all budgets hoping forward should not be the budgets of convenience and appurtenances for 18,000 top civil servants and politicians, but should be used clearly and succinctly to reflate and reboot the economy by focus on critical sectors,’’ Fasua said.
He listed the critical sectors as security, basic public education, environment, health, commerce, agriculture, rural and urban housing for the poor, tourism development and incentisation of a local textile.
He noted that the 2018 budget was being implemented in breach, saying there is little or no capital release made.
“Nigeria can generate revenue to finance the proposed ambitious N15 trillion budget through the Petroleum Industry Bill (PIB). The original PIB was focused on increasing signature bonuses, royalties and other advantages due to the Nigerian people. Other ways to generate revenue are reorganising budget management, transparency in tax, establishment of shared services agency and compulsory annual accounting,” Fasua said.
(NAN)
