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Recession: Nigeria is broke, cannot afford 2021 finances – Atiku

Former Vice President Atiku Abu Bakr suggested the Government that the proposed finances for 2021 was not sustainable.

It was said that Nigeria is bankrupt and can’t afford the luxurious gadgets within the finances proposal N13.08 trillion. The recommendation comes as Nigeria slides right into a second recession in 5 years after rising two consecutive damaging quarters. Hand wringing and staring on the navel. We should act now, by taking crucial, and probably painful, measures.

“For a begin, the proposed finances for 2021 submitted to the Nationwide Meeting on Tuesday, October 8, 2020, is not sustainable. It has the sources nor the necessity to implement such an expensive heavy finances. The nation is damaged however not damaged. Nonetheless, If we proceed to spend lavishly, even when we do not make equal income, we are going to go from being a damaged state to a damaged one. For primary gadgets, which embody affordable wages and salaries, infrastructure tasks, and social companies (citizen well being and different human improvement investments). "

The Nationwide Meeting's numerous committees are nonetheless engaged on the finances.