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Tuesday, 24th November, 2020
 
 
 
 Nigeria   ::   News
 
Atiku reacts to recession says Nigeria could have avoided recession if Buhari heed my counsel
Nov 22, 2020
By: Cletus Ilobanafor

Former Vice President, Atiku Abubakar has advised the executive that the 2021 proposed budget is no longer tenable.

He stated that Nigeria is broke and cannot afford the luxurious items in the N13.08 trillion budget proposal.

The advice is coming as Nigeria slided into a second recession in 5 years following 2 successive negative quarters growth.

Atiku in a Twitter thread on Sunday stated that COVID-19 only complicated an existing economic problem.

“We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions.

“For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable.

“Nigeria neither has the resources nor the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation to being a broken nation.

 
 
 
 
 
 
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