NEWS
BREAKING: PDP Shreds Tinubu’s 2024 Budget
. . . Considers It, Deceitful, Strangulating and Hopeless
The Peoples Democratic Party (PDP) has shredded the 2024 Budget laid before the National Assembly by President Bola Ahmed Tinubu, insisting that it “has no mechanism for economic recovery”.
The main opposition took to its verified X handle, Wednesday evening, to make its views on the proposed budget public, via a statement.
The party wrote under the subject, ‘Tinubu’s 2024 Budget, Deceitful, Strangulating and Hopeless – PDP’. ‘…Has No Mechanism for Economic Recovery, N750/US1 Suffocating’.
Here is the full text of the statement, “The Peoples Democratic Party (PDP) @OfficialPDPNig describes the N27.5 trillion budget for 2024 fiscal year as proposed by President Bola Tinubu @officialABAT to the National Assembly @nassnigeria as a huge disservice which, if allowed to pass, will further asphyxiate Nigerians and plunge our nation into more economic depression and hopelessness.
“The PDP also describes the claim by President Tinubu that the budget is a Budget of Renewed Hope as conjured, unfounded and deceptive as the budget is completely devoid of concrete mechanisms to revive the economy, create jobs, address the comatose manufacturing and productive sectors, human capital development deficiencies and depleting life expectancy of Nigeria citizens.
“The 2024 budget is filled with heavily padded figures, duplicated items and several false statistics including claims of global increase in inflation rate as excuse for an impending excruciating increase in taxes and interest rate to the detriment of our productive sector.
“It is clear that the 2024 budget as proposed with its heavy provisions for luxury appetite of the Presidency and All Progressives Congress (APC) leaders which is predicated and expected to be funded from multilateral and bilateral foreign loans and increased taxes on Nigerians, is designed to further mortgage our nation and strangulate the already impoverished Nigerians.
“The budget framework with respect to Recurrent Expenditure Vote of N9.9 trillion, Capital Expenditure Vote of N8.7 trillion and N8.25 trillion for debt services is unsustainable and unrealizable in view of the stated outstanding debt and proposed borrowing which is targeted mainly to finance consumption, luxury appetite and debt servicing.
“The lack of concrete and verifiable action plans to revive the manufacturing, energy, agricultural and education sectors which are the main drivers of any economy is a pointer that the Tinubu-led APC government is bereft of ideas and completely disconnected from the reality of life being faced by Nigerians.
“It is of grave concern that the President in the budget speech stated that his government has “adopted a Naira to US Dollar exchange rate of N750 per US Dollar for 2024”.
“This is a clear admission of failure, incapacity and lack of direction by the APC administration to manage and grow the economy in such a way as to strengthen the national currency, productivity and competitiveness in the global market.
“It has further confirmed that the numerous promises by the President and officials of his government asserting a monetary policy to strengthen the Naira have been a deceptive ploy which is consistent with the APC in the past eight and half years.
“By adopting a defeatist N750 per US Dollar exchange rate, President Tinubu has further plunged our economy into the abyss, weakened our productive sector, wrecked the purchasing power of Nigerians and the capacity of the youths to be creative, recognizing that it will be almost impossible for Small and Medium Enterprises as well as Startups to access capital under such a suffocating budget.
“Every responsible leadership strives to work and defend its national currency. Unfortunately, the Tinubu-led government has surrendered our nation currency and pride to the whims and caprices of the so-called “market forces”.
“The PDP insists that with a transparent, honest and innovative management of resources and economic potentials of the nation; without inordinate pursuit of luxury consumption by a few individuals in leadership position, as being witnessed under the APC, the economy will witness a rapid turn-around and the Naira strengthened to its value of below N200 per US Dollar bequeathed by the PDP to the @OfficialAPCNg in 2015.”
Former Kano State Governor and 2023 Presidential Candidate of the New Nigeria People’s Party (NNPP), Senator Rabiu Musa Kwankwaso, has condemned the recent spate of deadly attacks in Plateau State, calling on the relevant authorities to ensure that the perpetrators are swiftly brought to justice.
Kwankwaso, in a statement posted on his verified Facebook page, expressed deep sadness over the attack on the Zike community, Kimakpa, in Kwall district of Bassa Local Government Area, which claimed the lives of 51 people and left several properties destroyed.
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The NNPP chieftain described the incident as a tragic addition to the wave of violence that has rocked the state in recent weeks.
He noted that the Zike attack came shortly after over fifty other residents were killed across five communities within the space of a week.
“It is important that Plateau State must not be allowed to become a hotbed of violence and wanton destruction again after the relative peace it has enjoyed in recent years,” he stated.
Kwankwaso called on the Federal Government to rise to its constitutional responsibility of protecting lives and property, while urging residents and stakeholders to embrace peace.
“I extend my condolences to the Government and people of Plateau State. I also urge the authorities to ensure that justice is served by bringing the perpetrators of these heinous crimes to book,” the former governor added.
The recent attacks have continued to fuel concerns over security lapses in the region, as calls for decisive action and lasting solutions grow louder.
The Nigeria Union of Journalists (NUJ), Lagos State Council has commended Dangote Refinery for its consistency in the price reduction of Premium Motor Spirit (PMS) otherwise known as petrol.
The NUJ was reacting to the latest reduction in the ex-gantry loading cost of PMS from ₦880 per litre to ₦865.
Biztellers reports that the Chairman, Nigeria Union of Journalists, Lagos State Council, Adeleye Ajayi, noted that the Dangote Refinery had projected itself as a huge partner in progress to all Nigerians.
The gesture, the Council Chairman said had endeared the business mogul to Nigeria as a saviour of the masses in the face of the present hardship.
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Recall that the Dangote Refinery had announced a reduction of its ex-depot price per liter by N15 ostensibly following reduction in the price of crude oil in the international market.
“I want to emphatically say that the Dangote Refinery is indeed a blessing to all Nigerians. The roll out of petroleum products from Dangote Refinery has indeed changed the game and the fuel market is now liberalized,” he stated.
Urging other industrialists to take a cue from Dangote’s good heart towards Nigerians in the face of present economic hardship, the NUJ boss added, “In the last few months, we are all aware that Dangote Refinery has crashed the price of PMS at different interval and we are very optimistic that such gesture will be extended to other sectors by other industrialists.
“We need more Dangotes in this country so that Nigeria can be great again. Imagine if we have three or four Dangote in other sectors of Nigeria’s economy, Nigeria’s economic progress would have been fastracked.”
In a related development, Ajayi lauded the move by the Federal Executive Council (FEC) which gave an express approval for the full implementation of the suspended Naira-for-Crude agreement with local refiners on Wednesday.
He opined that the move would boost the confidence of the citizenry, as the output was expected to improve the living conditions of Nigerians.
A tragic crash involving a small plane near Copake, New York, has claimed the lives of all six people aboard.
The aircraft, a Mitsubishi MU2B40, went down in a field approximately 10 miles (16 kilometers) from Columbia County Airport on Saturday afternoon, authorities confirmed.
The National Transportation Safety Board (NTSB) is investigating the crash, with spokesperson Todd Inman stating that the incident is classified as a “fatal crash.”
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While Inman did not specify the number of deaths, the New York Times, citing a family member, reported that all six occupants perished.
The victims were identified as pilot Michael Groff, a neurosurgeon, his wife Joy Saini, a surgeon, their two children, and the children’s partners.
According to the Times, the family was traveling to a 25th birthday party and a Passover celebration.
Inman described the plane’s descent, saying it was “intact as it came down” before the impact caused it to “compress, buckle, and embed into the terrain.”
Before the crash, Groff, an experienced pilot, had reported a missed approach to the airport and requested guidance for another landing attempt, Inman explained.
He added that visibility had worsened before the crash occurred.
The plane’s cockpit had been recently updated, and the aircraft was in good condition prior to the crash.
This incident follows a string of other aviation tragedies.
Just last week, a helicopter crash in the Hudson River resulted in six fatalities.
In January, 67 people were killed in a collision between a military helicopter and a passenger jet in Washington state.
A light aircraft crash in Florida on Friday also claimed three lives when the plane developed mechanical issues shortly after takeoff.
The NTSB continues its investigation into the cause of the crash near Copake.
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