The Academic Staff Union of ( ASUU) on Tuesday condemned the 2016 national budget presented by President Buhari, declaring that the appropriation is a big failure in many respects.Speaking in an interview with journalists in Abuja, ASUU argued that the 2016 budget as presently appropriated by the Buhari administration is a step backward to the days of ‘debt trap’ syndrome.
ASUU President, Dr Nasir Isa, said, “the budget does not address the issues of the violation of the Nigerian Constitution on the privatisation of the commanding heights of the economy.
“Failing to do this, it leaves untouched a very basic problem of national economic development, the very source of the corruption that destroyed the Nigerian economy.
“We do not see a new alternative strategy for development. The 2016 budget risks returning Nigeria to the ‘debt trap’ In order to fund recurrent expenditures, the government will have to go borrowing. It is worrisome that the IMF and the World Bank are already courting, praising and toasting the new government in Nigeria.
“The President has said that Nigeria will not go borrowing, whereas the Minister of Finance has been consistently affirming that we have to borrow in order to fund the 2016 budget,” ASUU observed.