N3.9trn for debt servicing worrisome – Reps- 2022 Budget Debate

debt servicing worrisome

Majority members of the House of Representatives, Wednesday, picked holes in N16.39 trillion 2022 budget, saying it is riddled with unrealistic projections that may further hurt Nigeria’s economy.

The lawmakers bared their minds while debating the money bill at the plenary.

Expressing deep worry over deficit and borrowings incurred by the federal government, the lawmakers said that N3.9 trillion for debt servicing was disturbing, adding that by 2022, the total debt may hit N5 trillion.

While however asking for increase in the hazard allowance of doctors, the parliamentarians also sought upward review of crude oil benchmark per barrel.

This was as the members also noted that the allocation to Works Ministry should be increased by additional N500 billion.

Those who expressed this opinion included Hon. Onofiok Luke, Hon. Kabir Abubarkar, Hon. Leke Abejide, Hon. Mohammed Jega, Toby Okechukwu, Hon. Serguis Ogun amongst others.

In his contribution to the debate, Like said “Following from the above, there are plausible recommendations by the FG in the 2022 proposals which my constituents have asked me to share and then appreciate and look at it and commend it. One of them is the provision of about N50 billion for hazard allowance for medical personnel. We would recall that as part of the issues that led the medical personnel to go on strike is the hazard allowances which were not paid and even as of now those hazard allowances are quite very minimal.

“We commend this effort of the Federal Government to capture this. I believe that this would stem the tide of industrial action in the health sector in 2022.

“It is also commendable in the sense that we are still fighting COVID 19, we know that the Federal Government had paid for about three months Covid-19 allowance, and after that those allowances have not been paid. We know what medical personnel are exposed to daily, so there is need for them for to be paid these allowance so it can be a morale booster.

debt servicing worrisome

“We have had a lot of brain drain in the last few years, because our eggheads have been pushed to go into other climes because of the challenges we have here. So while we are commending Mr. President for this, there is need for us to up that hazard allowance from N5,000 which has been for over 20 years to something that will boost the morale of those medical personnel. So this is commendable but we can equally look at how we can increase the hazard allowance for medical personnel.

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