2024 budget: Renewed hope may turn renewed hopelessness if…

Beloved JohnDecember 1, 20232 min

Unrealistic parameters and projections in the 2024 appropriation bill may turn the budget of renewed hope into renewed hopelessness, warns a member of the House

Tinubu 2024 budget of renewed hope

 

A member of the House of  Representatives from Anambra State, George Ibezimako Ozodinobi, has cautioned against unrealistic paramaters and projections in the 2024 budget proposal. 

Ozodinobi (LP, Anambra) gave the caution during the debate of the 2024 appropriation bill at the plenary on Friday. 

The Labour Party lawmaker, who is the deputy minority whip of the House, asked that the projected revenue which is pegged at N18 trillion in 2024 be reduced. 

Speaking on the budget, the House of Reps member expressed concern about the possibility that the high revenue projection in the budget would translate to high import tariff. 

He observed that the revenue estimate might be based on heavy taxation at the port, which could affect businesses and the cost of goods in the country. 

“My worry with the budget which the president named renew hope is the expected revenue of 18 trillion. I have since the presentation of the budget been informed by my colleagues in the business world who are predominantly importers that this projection could be based on increased import tariff. 

“Given the level of hunger in this country, we are pleading that the 18 trillion estimated revenue in this budget be reduced. Let the renewed hope, by this time next year, not become renewed hopelessness,” he said. 

Ozodinobi also said “I will not sit here and allow the custom and excise to start taxing astronomically at the port. That is not why I was elected. My people are predominantly traders, mostly importers and they are saying this revenue estimate of 18 trillion is probably targeted at them at the port.”

OrderPaper had earlier reported President Tinubu’s presentation of the budget on Wednesday and after two days of debate on its general principles, the House of Representatives passed the N27.5 trillion estimate for second reading on Friday. 

Beloved John

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