Home News Politics 2016 Budget: Buhari’s Govt Spending Money Like A Drunken Sailor, Borrowing Like There’s No Tomorrow – Fani-Kayode
2016 Budget: Buhari’s Govt Spending Money Like A Drunken Sailor, Borrowing Like There’s No Tomorrow – Fani-Kayode

2016 Budget: Buhari’s Govt Spending Money Like A Drunken Sailor, Borrowing Like There’s No Tomorrow – Fani-Kayode


FEMI-FANI-KAYODEA former Minister of Aviation, Chief Olufemi Olukayode, has described the 2016 budget as presented by President Muhammadu Buhari to the joint National Assembly on Tuesday as a “fantasy”.

The president yesterday presented a budget of N6.8 trillion with 30 per cent of that amount allocated to capital expenditure.

While the Peoples Democratic Party, PDP, of which Olukayode is a staunch member described the 2016 budget estimates as a “big fraud”, the former Minister said it is fueled by insecurity and will not result in “anything good”.

The former spokesperson for the Jonathan Campaign Organization in the 2015 Presidential election, said it was an irony that APC national leader, Asiwaju Bola Tinubu; Minister of Transportation, Rotimi Amaechi and Governor Nasir El-Rufai of Kaduna State, who kicked against deregulation during former President Goodluck Jonathan’s administration, have suddenly become advocates of deregulation.

In a statement he signed yesterday and made available to Journalists in Abuja, Chief Olukayode, who accused Buhari’s administration of spending money like a drunken sailor, also slammed it for borrowing as if there was no tomorrow.

He was making reference to the president’s disclosure during the 2016 budget presentation that government plans to borrow N2 trillion to finance the budget deficit.

The former Minister, who alerted that the Buhari government was mortgaging the future of Nigeria, Nigerians and our children, said, “The 2016 budget is fueled by insincerity, shrouded in fantasy, built on tall dreams and spawned by deceit, ignorance and the illusion of change. It is bloated, unrealistic, expensive, cosmetic and it will not result in anything good.

“In order to fund part of the budget the government intends to borrow money and this will throw our country into even greater debt. What a tragedy this is given the fact that in 2007 Nigeria was debt-free. The Buhari administration is spending money like a drunken sailor and they are borrowing as if there is no tomorrow, mortgaging the future of our nation and our children.

“We need far more fiscal discipline and seriousness than that if our government really wishes to improve the economy and better the lives of ordinary people.

“Meanwhile the Federal Government has said that President Goodluck Jonathan is responsible for today’s long fuel queues even though he left office 7 months ago.

“They seem to have forgotten that in 2012 it was their group, led by Bola Tinubu, Nasir El Rufai, Rotimi Amaechi and President Buhari himself that aggressively opposed deregulation and almost brought the whole country to a standstill with protests and riots all over the place in their efforts to prevent the government from removing the oil subsidy.

“Had it not been for their pettiness, lack of understanding, shortsightedness and double standards the subsidy would have been removed three years ago and fuel queues would have been a thing of history. Sadly they lacked the foresight to appreciate the virtues of that policy and today they have the nerve to blame Jonathan for the mess that they themselves essentially created.

“They have been in power for 7 months now: it is time for them to step up to the plate, start taking responsibility for their own actions, do a better job and stop blaming Jonathan for their own miserable and avoidable failures”.




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