Nigeria doesn’t need loan to fund budget –ASUU"

The Academic Staff Union of Universities has criticised moves by
the Federal Government to secure foreign loans to fund the deficit
in the 2016 budget.
The President of ASUU, Dr. Nasir Fagge, while speaking with
journalists in Abuja on Monday, argued that the government could
generate the deficit from unpaid taxes by wealthy Nigerians,
property owners and recovered stolen public assets in the
country.
Fagge added that the Federal Government could get some money
from funds illegally allocated as security vote to governors, illegal
sale of government properties and unremitted revenue from the
sale of government assets.
He said, “Of what use is sourcing funds abroad when there are
unpaid taxes by wealthy Nigerians who patronise tax havens
abroad, unpaid taxes by wealthy public officers and property
owners who pay very little tax in Nigeria, stolen public assets and
unremitted revenues collected by state agencies in all the three
tiers of the state.
“Revenue can also be mopped up from unconstitutional security
votes illegally appropriated by state governors, unconstitutional
sale of public property and assets to individuals at very low
prices and non-remitted revenue accruing to the Nigerian state
from recovered stolen public assets.”
A human rights lawyer, Femi Falana (SAN), had also threatened to
sue the Federal Government if it sourced for foreign loan to fund
the 2016 budget.
Fagge, who also commented on the current fuel scarcity in the
country, said that the crisis would have been better handled “if
government had re-introduced direct sale and direct purchase in
the oil sector and make specific unambiguous pronouncement on
petroleum subsidy.”
He lamented that Nigerians had been subjected to suffering as a
result of the economic crisis in the country.
Faggae said, “There’s no doubt that Nigerians are suffering. There
exists a socioeconomic crisis in Nigeria. We are all aware of the
manifestations of the crisis which our country faces.
“There are many symptoms of the crisis: rising level of poverty;
increasing rate of unemployment, heightened expectation leading
to heightened frustration among Nigerians due to the failure to
realize an improved living standard.
“Food prices are higher and access to health facilities has not
improved; life and property remain insecure. In short, Nigerian
people are still suffering.”

- Punch.