Budget

To say that our nation’s financial situation is dire would be a gross understatement. In reality, we are on the brink of bankruptcy. Our expenditure consistently exceeds our revenue generation, forcing us to borrow extensively in foreign currency to cover domestic spending and loot what is not spent. The persistent policy of borrowing, spending and looting, a legacy of both the current and previous administrations, has brought our nation to the edge of financial ruin. This unsustainable approach will cease under my administration. We will implement prudent fiscal policies to restore financial stability and ensure our nation’s economic health and sustainability.

Achieving a balanced budget requires political will, public support, and sometimes difficult decisions that may involve cutting popular programs or increasing taxes. As a fiscal conservative, my administration will enforce discipline in our budgetary system, keep debt servicing costs within manageable limits, control inflation, manage balance of payment, reform and unite the exchange rate regimes, reduce corruption and wasteful government expenditure, reduce vulnerability in the economy, and generate additional revenue.

Under my leadership, a team of fiscal experts will be assembled to execute strategic initiatives designed to achieve a balanced budget annually:

Implement Budgetary Control: During my tenure, we will accomplish fiscal balance. It is imperative that we do not expend funds beyond our means. Each increment in our budget will be counterbalanced by equivalent cost savings in other areas.

Stop the Borrowing Culture: The existing pattern of borrowing to fuel debt repayments and inefficiencies will come to an end under my administration. My administration will renegotiate new debt repayment terms and restructure debt to keep debt servicing costs low.

Stop Borrowing Against Natural Resource Reserves: My administration will mandate an immediate cessation of accruing debts against Nigeria’s natural resource reserves. Our goal is to shift from over-reliance on natural resources as collateral for loans, towards a more diversified and sustainable economic model.

Dismantle The Black Market Foreign Exchange Market: This is a top priority of my administration. We will offer a single exchange system to stabilize the Naira.