CSO: 2018 bud­get MTEF un­re­al­is­tic

Daily Trust - - NEWS - By Ab­bas Ji­moh

The Cen­tre for So­cial Jus­tice (CSJ) said the Medium Term Ex­pen­di­ture Frame­work (MTEF 2018-2020) for the pro­posed N7.9tril­lion 2018 bud­get was not achiev­able and falls short of stan­dard.

The Lead Di­rec­tor of the cen­tre, Eze Onyekpere said yes­ter­day in a state­ment that be­yond the slides pre­sented by the Min­is­ter of Bud­get and Na­tional Plan­ning, Udoma Udoma, de­tails of the as­sump­tions be­hind the bud­get pa­ram­e­ters have not been made pub­lic.

He said good prac­tices de­mand that the con­sul­ta­tion pa­per should have been in the pub­lic do­main not less than two weeks be­fore the con­sul­ta­tion, to give Nige­ri­ans the op­por­tu­nity to study, un­der­stand and re­spond.

Ac­cord­ing to him, the pro­posal to spend N7.9tril­lion in 2018 is 6 per­cent above the 2017 ap­pro­pri­a­tion. “The in­crease would have been a wel­come de­vel­op­ment if we are very sure of the sources of its fi­nanc­ing or if we are not bank­ing on a good dose of deficit fi­nanc­ing. How­ever, it is af­firmed that Nige­ria needs more than this sum to meet its press­ing de­vel­op­men­tal needs, es­pe­cially in the in­fra­struc­ture ter­rain con­sid­er­ing the paucity of in­vestors and pub­lic pri­vate part­ner­ships,” Onyekpere said.

On the Oil pro­duc­tion and the bench­mark, he said the de­ci­sion to fix the oil pro­duc­tion at 2.3mil­lion bar­rels a day shows the na­tion’s con­tin­ued fix­a­tion with oil rents, as it amounts to an in­crease from the 2.2 mil­lion ap­proved in 2017.

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