A former presidential spokesperson, Dr. Doyin Okupe has urged members of the National Assembly to reduce their annual budget by half and sustain the donation of 50% of their salaries for the rest of this year so that the nation can survive the expected economic strains of coronavirus pandemic.
Okupe canvassed this position on Thursday in an open letter to the leadership of the National Assembly which was titled “Covid -19 And The National Budget 2020.
He reiterated that the Covid-19 pandemic has continue to
wreck havoc in the socio- economic life of Nigerians remains a fact that is not debatable. Okupe added that the devastating effects of the pandemic on the citizens would be quite unprecedented and by far, more alarming than anything that was ever seen in Nigeria national existence.
The open letter read in part : “A future financial crises is certain and another recession is just waiting to create future paralysis of our finances as a people and as a nation. This is not a doomsday hypothesis. While the government must keep it’s eyes on the ball; that is, to continue paying serious attention to the effective management of this pandemic. It must also begin to plan for the economic downturn that will befall the nation when all of this is over”.
Okupe further stressed that the coronavirus pandemic had caused the federal government to spend money it does not have, in a bid to contain the pandemic. He added that a sum in the range of N1trillion may be consumed in various activities that must be undertaken by the Federal Government to save lives of the citizens.
The letter further read : “If no plan is made to reflate the.economy, Nigeria will be plunged into a socioeconomic catastrophe such that has never been experienced hitherto in the history of this nation”.
The former presidential spokesperson also made recommendations to the National Assembly for the nation to avoid grave socioeconomic consequences. Although, Okupe was categorical in the letter that his recommendations were merely informed by his experience, personal assessment and closeness to seat of power over the years.
“But first, let me state categorically that I based the recommendations below not on any resourceful economic discipline, known principles or knowledge, but based on my personal assessment as a stakeholder, my experience in government and closeness to power over the years. They are therefore not sacrosanct but meant to draw your esteemed attention and possibly provoke positive debates and beneficial actions”.
He recommended that President Buhari should declare a state of emergency as soon as it is practicable; and also assume emergency powers that will be limited only to finance and economic matters.
Other recommendations of Okupe in the letter read : “Budget 2020 must be suspended immediately with a strict commencement of drastic review process along the following lines:
a) National security.
b) Welfare of Nigeria citizens.
c)Reflating the MSMEs.
d) Adopting a single exchange rate for all transactions.
e) Complete removal of all existing subsidies.
f) Major attention to rebuilding and modernizing healthcare infrastructure.
G) Suspension of allocation for all capital projects by up to 60% to 70%.
H) provisions for new road construction to be suspended and emphasis in the reviewed budget to be on road maintenance and rehabilitation.
I) Direct grants to old, aged, pensionersand the vulnerable in our society.
J) Reduction of all revenue benefits in the ministries and parastatals by 50%.
K) National Assembly salaries presently at 50% due to voluntary donations of members should be sustained at that level till the end of the year. While the National Assembly budget also be reduced by 50%”.
Meanwhile, Okupe also lamented in the letter that the national budgets
have over the years remained essentially elitist and principally aimed at satisfying the whims, caprices and greed of the ruling class. He added that the nation’s budget have often times turned out to be exploitative and parasitic.
“Most of the beneficiaries are people in government, their agents and friends, the civil service, Ministers, legislators and foreigners. More than 70% of the annual budget finds its way to be transferred to foreign lands through various bogus contracts, elephant projects and direct stealing”.
He has however urged the ruling class to take have a rethink and use the coronavuirus saga as turning point or watershed in which the national budgets will be used as instruments for national and human capital development in the country.
“In many advance countries, citizens benefits directly; that is, through cash payment, grants and loans from the national wealth.
In Nigeria, it is an abomination to see budgetary allocations being directed to assisting the poor and needy amongst us.
“I want to strongly recommend that from the various savings that some of the above suggestions may bring if implemented, the SMEs employing 10-49 for small and 1-9 people for micro, which constitutes 99% of all the MSMEs, should be given interest free loans of about #50,000, minimum and repayable over 24 months.
“The Medium scale Enterprises about 1% of the 37 million can be given loans of N50 million to N100 million and compelled to employ 10 to 20 people each as condition for qualification for such loans. Similar palliatives on a lesser scale of between N10,000 to N20,000 can be offered to registered artisans and organised market women and petty traders nationwide”.
Okupe also informed that taking to his advice on providing economic stimulus would go a long way to help in giving an upward push to the nation’s GDP and also prevent recession from constituting threats to the presently precarious economic situation in the country.
Similarly, Okupe has advised that the nations wealth should henceforth be deployed for benefits of majority of the citizens and not just for a privileged few. He also counselled the leaders of the country that they could no longer afford to be arrogant and uncaring in their disposition to provision of good life for the populace.
“The wealth, fortune and common patrimony in our care is not just for us and our relations and friends, but for the common good of all.
Let us remember that poverty anywhere endangers prosperity everywhere”, emphasized Okupe.
