From Tony Jonh, Port Harcourt
Dr. Farah Dagogo was a former Rivers State governorship aspirant and National Assembly member. He argues that from his understanding of the 2025 National budget, there is no hope that things would turn around.
Excepts:
Let’s talk economic growth and development. As a former State and Federal lawmaker, what is your take on President Bola Tinubu’s budget of N49.7 trillion?
The 2025 budget does not give any resounding hope that things will turn around. The basics and breakdowns have been in the public domain. Simply put in plain language, the country’s budget for this year will be in deficit and we will have to borrow N14 trillion to augment for it since the president is forecasting a possible generated revenue of N35 trillion for this fiscal year. This is not new, as we have consistently been battling with budget deficit since 2016. Mind you, there is nothing wrong with borrowing to fund budgets, but it has to be progressive and productive not regressive and plain redundant!
For instance, N15.8 trillion is earmarked for debt servicing and another N14 trillion for recurrent expenditures. So, what is left for capital expenditures that will cover critical sectors such as Health, Education, Security, Infrastructure and others? Yet, we are still borrowing. Next year, we continue with same cycle. It would interest you to know that a further breakdown has shown that Nigerians will still bear more of the brunt with increment in the VAT rate from 7.5 to 10 percent, but with nothing to supplement, as far as the paying populace are concerned, for the sacrifices they are expected to stomach once more. Because, how will a capital budget of N16 trillion rebound this economy and address priority concerns?
As a public figure and voice that commands attention, what would your advice be to governments at all levels to prioritise this year?
Optics for the 2025 Appropriation estimate sadly points to more pains for the populace. There is no point sugarcoating it. How do you work around the inconsolable and unavoidable truth that our purchasing powers, as a people, have plummeted because the value of our currency has lost its value and reduced exponentially? So many anti-people and inhuman economic policies have helped put the people in a terrible state and there seems to be no end in sight. The solution is with the government. They should retrace their steps, it is very honourable to admit where you got it wrong, go back to the basis and sort it out. Like I always advice, it is good to stop in error than end in error! The government policies, no matter how good it sounds on paper, does not resonate practically and that is a very injurious flag!
You have been coy with your political aspirations. We understand your reluctance to speak on 2027 because of the insensitivity it portends in relation to what majority of the populace are facing now. But it is about two years to the next election cycle and it is expected that all aspirations should be germinating. The question is, would you be contesting against incumbent Governor Siminalayi Fubara seeing how you were schemed out in the last governorship race. Or, will you support him for a second term since both of you are in the same PDP and knowing that party dynamics give an incumbent a choice of first refusal for its ticket?
I am not unaware of this concern as more often than not, I have been inundated and bombarded with inquiries from friends, associates, followers, others and journalists as well. There is a time and season for everything. It is still not ripe to talk about elections or the likes, especially with the sufferings and hunger prevalent in the land. It would be quite insensitive. Rather, our common goal and focus should be on how to support government at all levels with the good intentions that it will aid in spreading development and improving the country’s economy. We have a president today and it is incumbent we support him and criticise constructively where necessary in flow with the temperament of what the populace are going through. So also, we have a governor in Rivers State and other states that should be supported and criticised constructively. Despite my ordeal and what transpired in the build-up and after the PDP Governorship primaries in Rivers State, I used my resources to canvass, support and vote all PDP candidates in that election. In my area of domain in Rivers State, PDP won in all contested seats. That shows you my kind of person who sacrifices personal interest or pursuits for interests that would be beneficial to all. Just as you rightly pointed out, the governor has a right of first refusal; so is that theory also applicable to all incumbents occupying other elective positions under the party’s banner. However, there is a caveat, which boils down to the individual or person’s capacity and connection contesting against such incumbents, then you understood what you are up against and it would no longer be a thoroughfare.
