PDP Pledges N21 Trillion Budget Deficit To Stabilise Nigeria’s Economy

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Ahead of the fast approaching 2015 general polls, the ruling People’s Democratic Party (PDP), has proposed a budget deficit of no more than five per cent of GDP annually, or an estimated N21.4 trillion total deficit over the next four years.

It would also be recalled that the opposition All Progressives Congress (APC) had in similar move, outlined an economic plan with an estimated budget of N8 trillion in 2015/2016 compared to the N4.46 trillion budget proposal for 2015.

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According to the party, this proposal will be executed in order to “guarantee macroeconomic stability”, if the party’s candidate and incumbent, President Goodluck Jonathan is re-elected at the March 28, 2015 polls.

The PDP Manifesto, outlines implementation strategies and targets across 30 segments of the economy.

Lanre Adebayo, Director-general at the People’s Democratic Institute (PDI) said: “There are few things that are uniquely PDP. There is a strong emphasis on partnership and the provision for monitoring and evaluation of the manifesto across all government levels of the party.”

However, an analysis of the aforementioned plan by the PDP would require financing a N4.3 trillion deficit, which is almost six times the N755 billion deficit currently in Nigeria’s 2015 budget proposal, before the National Assembly.


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