The People’s Democratic Party (PDP) has accused the president of mortgaging the country’s future in his 2016 budget announced today. President Muhammadu Buhari said the government would spend $31bn next year, but would need to borrow $11bn to cover the budget deficit – the difference between spending and government income.
The PDP has described this as the biggest amount that government has borrowed “in the history of the nation”.
“We have it on good authority that this is the first in the series of borrowings which would leave the future generation of Nigerians under the burden of huge debts after four years,” the party said.
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