Senator Eyinnaya Abaribe, the Senate Minority Leader, has termed the 2020 appropriation bill as a “budget of taxation”.
According to him, while he was speaking during plenary on the floor of the Senate, the Senator who represents Abia South held that the budget was not sustainable.
Abaribe argued that it wasn’t sustainable because debt serving was higher than capital expenditure.
He added that the legislators should look into the budget, stressing that the country was still struggling.
Abaribe said “This is nothing but a budget of taxation. I urge the Senate to look at that fact as it is not a sustainable budget. Debt servicing is higher than capital expenditure.
“We are still struggling. I second the budget presentation by the Senate Leader”.
Also while reacting to Abaribe’s statement, Gabriel Suswam, Senator representing Benue North-East Senatorial also a former Governor of Benue state, said there was need to monitor the country’s borrowing mothodologies.
“I commend Mr. President for bringing an ambitious budget; the deficit worries me, there is a correspondence borrowing increase; we need to do something in this Chamber by way of legislation to address borrowing”, Suswam stated.