We Are Heading Towards Economic Recession- Sen. Sam Anyawu

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The Chairman on Committee on ethics,
privileges and public petitions, Sam Anyawu
on Friday, January 8, 2016 said that the
country is heading towards economic
recession.
He disclosed this in an interview with
Naij.com in Abuja when asked about how the
country can manage the six trillion naira
proposed by President Muhammadu Buhari in
the budget.
Although he said that the amount proposed
was good, the country should borrow a large
sum of money at once that can pay all debts
in order to solve the economic issues in the
country.
“If you are an economist, you will find out
that we are heading towards economic
reccession. I don’t think the amount
proposed for the budget is bad.
READ ALSO: Senators Divided Over Buhari’s
Alleged Budget Withdrawal
“When we were debating the Medium Term
Expenditure Framework (MTEF), we argued
that the country should borrow a large sum
to revive industries and put more
infrastructures for job creation.
“Even the bench mark that was used to
prepare the budget was based on 38 dollar
per barrel. As i speak to you today, the oil is
going at 36 dollar per barrel.
“Now that we have received the budget from
Mr President, we will look at it and look at
the realities on ground,” he said.
Anyawu added that the President is not the
government but only holds a position in the
country thereby if he fails, then the country
fails.
He added that it was not the sole
responsibility of the President to revive the
economy but also the job of the other arms
of government in collaboration with the
citizens to make progress.
Anyawu said that this can work if party
affiliations are put aside but instead focus on
the needs of the people.
“It is not about the party but the individuals.
Buhari is not the Nigerian government but
just the President of Nigeria. If he has failed
then all of us have failed.
“We have other components that form the
government, so if they fail then all of us fail.
It is through the budget that we will look at
how robust the economy will be in the next
fiscal year,” he said.
Naij.com recalls that members of the
National Assembly are divided over the
alleged withdrawal of the N6.08 trillion 2016
budget by Buhari who on Tuesday, December
22 2015, presented a budget estimate of
N6.08 trillion to a joint session of the
National Assembly.
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