In a fiery response to President Bola Tinubu's proposed N27.5 trillion budget for 2024, the People's Democratic Party (PDP) has launched a scathing critique, labeling the fiscal plan as "deceitful" and devoid of any mechanism for economic recovery.
The PDP, through its National Publicity Secretary, Debo Ologunagba, issued a statement urging the National Assembly to reject the budget, claiming it could plunge the nation into an economic depression if approved.
Presented as the 'Budget of Renewed Hope,' President Tinubu showcased the financial plan on November 29 before a joint session of the Senate and the House of Representatives.
The PDP, however, contends that the budget lacks concrete strategies to revive the economy, create jobs, and address critical sectors.
The PDP's statement accuses the budget of containing inflated figures, duplicated items, and false statistics, further asserting that it leans heavily towards funding luxury expenditures for the Presidency and APC leaders.
The opposition party expresses concerns over the sustainability and feasibility of the budget's allocations, particularly highlighting the N9.9 trillion for Recurrent Expenditure, N8.7 trillion for Capital Expenditure, and N8.25 trillion for debt services.
Moreover, the PDP criticizes President Tinubu's adoption of a Naira to US Dollar exchange rate of N750 for 2024, interpreting it as an admission of failure and a setback for the nation's economy. The party contends that the budget reflects a lack of innovation, transparency, and concrete action plans for crucial sectors, portraying the Tinubu-led government as disconnected from the realities faced by Nigerians.
The PDP concludes its statement by calling on the National Assembly to utilize its constitutional duty to scrutinize and potentially reject the budget. As the political tussle unfolds, the nation awaits the legislative response to the PDP's allegations and the fate of the proposed budget.
