A security expert and Interpol Consultant, Sir Chikwe Udensi has reacted to the recent budget presentation by President Muhammadu Buhari, saying that there’s nothing developmental about the budget of fiscal development and consolidation presented to the national Assembly by President Muhammadu Buhari .
Udensi who was speaking based on the analysis and impact of the budget on the Nigerian economy , added that it is disturbing to service debt with N 6.31 Trillion as the capital expenditure is N 5.3 trillion which is higher than the money meant to be used for development.
He says the budget from studies has nothing to offer but woes as it will be difficult to consolidate on that, adding that the government needs to think out of the box for the country to make headway
Udensi who was reacting to issues arising during the week under review across the country on his mid-week Radio Programme monitored by newsstarlet says it’s worrisome that Nigeria spends more than it generates as he further posits that the narrative should have rather been about ensuring high level of productivity for the economy to improve.
“We have to cut our Coats according to our various sizes especially in the areas of capital expenditure.”
He said President Muhammadu Buhari while working on the budget ought to have considered the exchange rate which he says encourages criminals and those in fraud to acquire the Dollar at N435 and sell N735 per Dollar ,making it difficult to acquire the Dollar at an official rate.
Udensi who believes that borrowing is not bad posited that the purpose at which it’s done matters, while describing Subsidy as a scam judging from the perception of some economists and intellectuals in the Country .
“Borrowing is not bad in itself but the question is what are you borrowing for,are you borrowing for salaries ?if you borrow in the areas that will create wealth,it is a stupid borrowing.”
“We are borrowing for consumption!we are borrowing for fraud.”
Speaking on the reflection of the budget on fighting insecurity , Udensi added that there’s some level of insincerity fighting insecurity in the country, while stressing that there’s no justification trying to rehabilitate people who had caused the nation more harm as it concerns insurgency and rehabilitation of repentant Boko Haram members .
He maintained that with what happened at Kuje Prison , Abuja some few months ago and stories about hundreds of convicted Boko Haram members and those awaiting trials been released ,it worries about the future of Nigeria as the Country by these developments is challenged and helpless.
Chikwe Udensi who laid stress on the need to resolve the ongoing ASUU strike and pay rapt attention in the education sector as lack of that will lead to doom and failure , commended the speaker of the House of Representatives Femi Gbajabiamela’s intervention between ASUU and Federal Government saying that he showed capacity and leadership , while expressing disappointment with the Minister of Labour Senator Chris Ngige whom he said lacked competence to handling the Ministry.
“Any society that doesn’t pay attention to the education of it’s citizenry is doom to fail.”
Reacting to the current issue of non implementation of N30,000 minimum wage by states as the National Chairman of the Nigerian Labour Congress Comrade Ayuba wabba ,he added that no minimum wage of N30,000 in Abia has been implemented.
The former ALGON Secretary general noted that Comrade Uche Obigwe NLC Chairman Abia State has been compromised as a labour leader in the State and has not considered the plights of the workers that he’s meant to protect by his recent outbursts on the revelations made by the NLC President.
He added that Comrade Ayuba wabba was right to have spotted that some States like Abia have not started the increment as investigation has shown that Abia workers in various ministries, department and agencies of education,health,judiciary and local government have not gotten any increament.
“We must have to assure that what we are seeing is corresponding with what is on ground.”
“What is on ground is that no minimum wage implementation of N30,000 in Abia has been implemented , maybe it was implemented in the books or the records of the ministry.”
