Sen. Orji Kalu, the Senate's Chief Whip, has urged for a decrease in government spending to address the nation's economic problems.
In response to President Muhammadu Buhari's N20. 5 trillion budget proposal that was made to the National Assembly, Kalu made the following comment.
Concerned that the nation is facing certain economic difficulties as a result of poor productivity, Kalu suggested that greater effort and resources be devoted to raising productivity.
He claimed that expanding the manufacturing industry and raising productivity is the only way to get out of indebtedness.
“I am not saying I am in love with this budget, I am not saying I am dissatisfied with the budget, but I am saying there are areas the Senate Committee on Finance and Appropriation needs to look into.
“We should be able to look into this yearly reoccurrence. I used to ask my colleagues, does it mean that civil servants are the people buying the same stationery, same furniture and same equipment every year?’’
While describing the cost of governance as huge, the former governor of Abia suggested it be reduced and part of it channeled to manufacturing.
“The cost of governance is too heavy and should be channeled into the manufacturing sector and into productivity sector.
“We are not producing anything, we are just a consuming nation,’’ he said.
He also urged the Senate Committee on Finance and Appropriation to scrutinise the budget thoroughly with a view to identify any irregularity.
“What I have seen in this budget is what I saw last year in the same budget, and it is not going to be good for us if we continue recycling what we have,’’ Kalu said.
He emphasised the need for the country to go back to agriculture as a means of diversifying the economy.
Kalu said that the country should place great emphasis on agriculture, so that the country would come out of the present situation.
Kalu further expressed concern that the security situation in some parts of the country was affecting production.
According to him, there are security challenges in the North-East, South-West, South-East and other parts of the country.
Kalu said that the situation needs to be addressed urgently, as farmers are not going to farm and there is low productivity.
“The industry capacities are down; industries are not manufacturing, as capacity has gone far below 6 percent.
“I have two industries in Lagos, they are closed down, they are not doing anything. The answer to not doing anything is borrowing, unless we start producing,’’ Kalu said.