By Auwalu Birninkudu
Bauchi Oct 8, 2020 Some section of the public in Bauchi state have described the N13.08tn annual national budget presented by President Muhammadu Buhari to a joint session of the National Assembly, as a budget of hope and rising expectations.
A renowned scholar and economist, Dr Abdulmaji Jamal encapsulated this optimism in an interview with journalists in Bauchi on Thursday and described the estimate as realistic.
He explained that the benchmark of N379 to a dollar as envisaged by the estimate was reasonable, considering the nation’s dwindling oil revenue which may appreciate or indicate otherwise.
He said the 11.9 per cent inflation target of the expected annual expenditure was also reasonable.
“But we must expect a significant reduction in the prices of consumables especially foodstuff,” he said.
In the same vein, Malam Dauda Mohammed, a civil servant expressed optimism that the price of oil in the international market would appreciate and the budget target could be achieved as envisaged or even better.
He added that the budget which was projected at the N 4.4 trillion deficit would definitely see the light of the day through exploiting the various existing revenue sources and blocking of leakages.
Also, Mr Alhassan Ibrahim, a businessman lauded the president for such an ambitious budgetary allocation.
He said that the N420 billion and the N20 billion earmarked for the social investment and housing programmes would likely generate employment and provide sufficiency in shelter.
Ibrahim, however, called on the government to ensure full implementation of the budget while calling on the national assembly to ensure speedy and timely passage of the budget into law for development.
Naija247news reports that President Muhammadu Buhari presented the 2021 budget estimate before a joint session of the national assembly for their consideration and subsequent approval.