ActionAid Nigeria (AAN), a non-governmental organization said the parameters for 2020 proposal of Oil benchmark at $57 and the crude oil production of 2.18bpd are unrealistic.
The Country Director, Ene Obi in a press statement issued yesterday in Abuja said the proposal was unrealistic given the volatility in the global oil market and the increasing insecurity across the country.
She estimated revenue of N8.155t for 2020 is highly welcome, if this will be vigorously pursued.
She said the new Finance Bill to be submitted by the President, the review of the domestic tax policy will likely lead to improved revenue over the period.
AAN is concerned that the 2020 budget proposal continues to deepen the huge gap between the capital and recurrent expenditures.
She said the capital expenditure proposal for 2020 is N2.46t about 24% of aggregate projected expenditure compared to the recurrent proposal of N4.88t, this is not good enough for a country with high need for infrastructural development given the teeming population.
AAN decried the abysmal allocations to agriculture N81b, health N46b, education N48b and the Social Investment Programme N30b, it portrays the continued downward trends in the allocation to these key sectors.
“It is pertinent to make provisions for the adequate funding of Agriculture, Health and Education sectors given their strategic importance.
