Why 2016 Budget Is Epic & Historical – House Of Reps Leader

While members of the Peoples Democratic Party (PDP) are strongly criticizing the 2016 budget, Femi Gbajabiamila, the leader of the House of Representatives, has described it as a truly democratic and called for its speedy passage.

In a series of tweets posted on Wednesday, January 20, Gbajabiamila noted that the budget was historic because for the first time in recent history, 30% of the budget was dedicated to capital expenditure. However, he expressed hope that the 2017 capital expenditure would be further increased to 40%.

The 2016 budget is epic not just because of its super mega size of 6trillion but for reason that it touches on the well being of the people

— Femi Gbajabiamila (@femigbaja) January 20, 2016

..the first really all inclusive budget that seeks to carry all Nigerians along. The rich, the not-so-rich, the poor and the not-so-poor. — Femi Gbajabiamila (@femigbaja) January 20, 2016

READ ALSO: President Buhari Discovers New Way To Fund 2016 Budget

According to Gbajabiamila, the budget is historical because it has a social intervention component.

Like I said earlier, is there a basis for social intervention in our constitution? #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

Indeed social intervention is the raison detre of any government. Section 14 of the constitution speaks to this #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

Going further sections 15, 16 and 17 are translucent of constitutional underpinnings of social interventions. #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

..so its not about capitalism, welfarism, socialism or any other “ism” or ideology. Its about the constitution. #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

This govt has allocated 500b to fund its social intervention initiatives such as the training and employment of 500,000 unemployed graduates

— Femi Gbajabiamila (@femigbaja) January 20, 2016

The 500b social intervention initiatives would help your constituents and my constituents when the budget becomes law #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

The social intervention initiatives include feeding of public primary school children which has been applauded by our constituents.

— Femi Gbajabiamila (@femigbaja) January 20, 2016

Sch feeding provides jobs through its value chain which includes poultry farmers, rice millers, butchers, transporters #Reps2016BudgetDebate

— Femi Gbajabiamila (@femigbaja) January 20, 2016

The leader of the House of Representatives also noted that it will be the first time when domestic borrowing will be higher than foreign borrowing, which is another epic feature of the budget.

Meanwhile, Senator Eyinnaya Abaribe of the PDP has called on President Muhammaduu Buhari to withdraw the 2016 budget. He faulted the government for increasing spending by 30% based on borrowing, which he thought was too high.

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