H.E.Prince Frank Ukonga remark on the 2016 Budget of 6.08trillion Naira of President Mohammadu Buhari- it is a survival Budget of Keynesian bias-which if well implemented could navigate Nigeria to resilient balance

H.E. MOHAMMADU BUHARI PRESENTING 2016 BUDGET AT NATIONAL ASSEMBLY /ABJ

H.E.Prince Frank Ukonga remark on the 2016 Budget of 6.08trillion Naira of President Mohammadu Buhari- it is  a survival Budget of Keynesian bias-which if well implemented could navigate Nigeria to resilient balance-but palliative measures has to be in place for the expected trying interregnum of inflation, hardship and forced majore
The truculent access to foreign exchange by the private sector and the comatose real sector economy will impact negatively on IGR ,Job creation and the GDP.
The diversification to agrarian base is vague and obfuscating, proper constructive engagement by empowerment of farmers to form large scale cooperative and pioneering agrarian revolution via mechanization,processing, access and link roads to farmland and water provision etc should be given serious push and not be handle in the erstwhile lack luster mentality..
The reactionary fiscal policy of conservatism ,new licensing regime, protectionism, single Treasury Account,rationing of foreign exchange regime would be counter productive if not handled by experts to put down a proper road-map that would not box Nigeria into the oxbow-lake of the international concurrency of laser fair, GATT and WTO which would inter alias would receive unfavorable response of the world condoning Nigeria out with sanitary condom of subtle reciprocity of tacit unwritten sanctions that would be counter productive and would make Nigeria a NET exporter of capital achieving the exact opposite of what was expected out of naivety and birth trauma.
 Our membership of the 34 Islamic military pack was too hasty and perhaps not the best alternative for a paradigm shift of Nigerian foreign policy thrust which would impact negatively on the political economy of the Nigerian state on an abellian wholly.
With borrowing  of 2 trillion Naira to finance the 2016 budget will amount for about 35% of the budget , would certainly inpact on the net aggregate of Nigerian debt portfolio to about 28% of our overall debt profile in 2016...this over ambitious zeal of excessive borrowing within a reluctant and unfriendly business atmosphere could be misused and plunge the entire over 200 million peoples of Sub Saharan Africa into another harrowing debt burden..of illiquidity and insolvency. So their is the need to cautious as not to end up into economic indigestion/collapse as in the Venezuela effects and the Cuban effects.. which are classic cases in world economic indication...
Debt profile to debt servicing ratio to the GNP will compound for the future- this means the regime will leave more debt than it met and projected to 4yrs would be above 25%debt of the GNP currently at 12% etc we should avoid debt trap,create jobs and tame inflation-to boost economic growth and overall development of Nigeria- gratitude