A professor of political economy and Founder of the Centre for Values in Leadership Pat Utomi has said that the recently passed 2023 budget will lead to massive inflation, loss of jobs and collapse of exchange rate.
The economist who described it as a budget of debt service said the projected figures of 9 trillion naira revenue and expenditure of 21 trillion naira defeated sensible human reasoning.
Utomi said he blamed the Buhari-led administration for the country’s economic woes noting that part of the problem was letting the CBN manage both the fiscal and monetary policies.
He further described the management of economy as not people friendly, not job creation sensitive, and not economic growth oriented adding that the government had become too bloated. PUNCH