The 2016 budget presented to the National Assembly by President Muhammadu Buhari has followed the path as those of his predecessor, Goodluck Jonathan, former Governor of Central Bank of Nigeria Prof. Charles Soludo has said.
Speaking at the 13th Daily Trust Dialogue in Abuja on Thursday, Prof. Soludo noted that “We cannot make progress in the 21st century with the ideas of the mid 20th century.”
He insisted that defeating old bad ideas could be better that initiating new ones. “The government has its heart on the right place but it is struggling to put them into play.
“The present budget is more of the same to the previous ones. Mr. Vice President [Prof. Yemi Osinbajo], If you scale your budget on the scale of GDP, it is almost the same with the previous government.
“It has a historic 37% deficit as we never had it before. The truth is that you are borrowing 37% with only 30 per cent on capital project,” Prof. Soludo stressed.