Gabriel Suswam, the former Governor of Benue State, has raised critical concerns about the viability of the 2024 budget proposed by President Bola Tinubu.
Suswam contends that the budget, with its staggering N17 trillion deficit, faces insurmountable obstacles in terms of implementation.
President Tinubu had unveiled a proposed budget of N27.5 trillion for the 2024 fiscal year during a presentation to members of the National Assembly.
However, Suswam, while addressing 25 fellows of the Emerging Political Leaders Fellowship on Wednesday, dissected the budget’s shortcomings, attributing its impracticability to the massive deficit it carries.
In his analysis, Suswam pointed out that out of the total budget, a substantial N17 trillion accounts for the deficit.
He elaborated on the breakdown, emphasizing the N9 trillion deficit, an additional N8 trillion allocated for debt servicing, and N2.7 trillion earmarked for tax expenditure, characterized as a waiver.
“The entire money, the N27 trillion budget is not implementable. Do you know why we have that? Because we have people in leadership with no intellectual content,” remarked Suswam, casting a critical spotlight on what he perceives as a lack of intellectual depth among those in power.
His assessment implies that the very foundation of the budget is compromised due to a combination of excessive deficit, high debt servicing obligations, and tax expenditures that further strain the fiscal framework.
Suswam’s critique extends beyond the technical aspects of the budget, delving into the broader issue of leadership competence and intellectual acumen within the corridors of power.
The former governor’s remarks underline the importance of crafting budgets that align with financial prudence and feasibility.
In his view, the current budget proposal reflects a deficit of leadership skills, suggesting that the crafting of such a crucial financial document requires a more nuanced and strategic approach.
As Nigeria grapples with economic challenges and seeks sustainable fiscal policies, Suswam’s insights add a layer of scrutiny to the budgetary process.
The discourse triggered by his critique prompts a broader examination of not just the figures in the budget but also the strategic thinking and leadership capabilities required to navigate the intricacies of economic governance.
In the evolving landscape of Nigeria’s economic future, the questions raised by Suswam serve as a catalyst for discussions on the essence of effective leadership in shaping robust fiscal policies.
