The Peoples Democratic Party (PDP) has criticized President Tinubu’s proposed budget of N27.5 trillion for 2024, referring to it as “deceptive, strangling, and hopeless.” According to the party, the budget lacks specific mechanisms to revive the economy, create jobs, and address the country’s economic challenges.
In a statement released by Party spokesperson Debo Ologunagba, the PDP said that the budget was expected to be funded by multilateral and bilateral foreign loans and increased taxes on Nigerians, which would further impoverish the nation and make life more difficult for Nigerians. The PDP also criticized the budget’s lack of provisions for improving the manufacturing, energy, agricultural, and education sectors.
“The lack of concrete and verifiable action plans to revive these key sectors shows that the Tinubu-led APC government lacks ideas and is completely out of touch with the reality of life for Nigerians,” Ologunagba said.
The party also disagreed with the government’s adoption of a N750 per US dollar exchange rate, citing it as a “defeatist” policy that would weaken the productive sector, limit Nigerians’ purchasing power, and hinder the creativity of the youth.
Therefore, the PDP called on the National Assembly to reject the budget and make provisions that would promote economic growth and the welfare of Nigerians.
“This 2024 budget, as presented by President Tinubu, represents hopelessness for Nigerians,” Ologunagba said. “It is disappointing that the President, whose primary responsibility is to provide for the security and welfare of Nigerians, could present a budget that is not aimed at achieving that constitutional duty imposed on him.”
It is important to note that President Tinubu presented the 2024 Appropriation Bill to a joint session of the National Assembly earlier today. The budget focuses on national security, job creation, economic stability, human capital development, poverty reduction, and social security, and is themed “Budget of Renewed Hope.”