Dr Sam Amadi, a public affairs analyst and associate professor of Law at Baze University, Abuja, has condemned the All Progressives Congress, APC, Presidential candidate, Senator Bola Ahmed Tinubu’s defense of endless budget deficits under President Muhammadu Buhari’s APC Government, describing it as “reckless, indifferent, dangerous politicking”
Amadi, who is equally the Director, Abuja School of Social and Political Thought made the assertion this Saturday morning while speaking as a guest on The Morning Show, Arise TV’s public affairs program.
“Of course, all over the world, budget deficits occur in Government. Maybe, he was trying to say that budget deficits are not necessarily bad.
“However, it depends on how such deficits are invested in infrastructure that will drive growth. In this case, that is not happening since the Government is not doing enough to protect the infrastructural investments that led to the deficits.
“For instance, the trending report that the Government’s $4.12 billion investment in railway infrastructure was under serious threat by spiraling insecurity because of the Government’s failure.“
“Recall that Tinubu, yesterday in Lagos, defended Buhari’s Government’s widely criticized endless budget deficits while unfolding his comprehensive economic plan for the organised private sector before the Nigeria Economic Summit Group (NESG).
“Under Buhari’s APC federal government, the budget deficit rose from N2.41 trillion in 2016 to N11.34 trillion in 2023.But Tinubu disagreed with arguments that fiscal deficits by the federal government are inherently bad.He said: “All governments, especially in this era of fiat currency, run on budget deficits. This is an inherent part of modern governance. The most powerful and wealthiest governments run deficits, as do the poorest nations.“