Tinubu Wants To Give 70bn to 470 Lawmakers But 60m Nigerians Are Expected To Share 500bn – Johnson Chukwu

Amid the ongoing uproar that has greeted the palliatives that would soon be rolled out by the Bola Tinubu administration, renowned economy expert, and public affairs commentator, Johnson Chukwu has come out to question the rationale behind the President allocating a large chunk of the scarce financial resources to members of the National Assembly as against what will be paid to poor Nigerians across the country.

Speaking during an interview on ARISE TV’s ‘The Morning Show’ on Saturday, July 15, Chukwu argued that the Tinubu administration has shown how skewed its priorities are by doling out a whopping 70 billion Naira to just four hundred and seventy people who make up the 10th National Assembly while over sixty million Nigerians are being expected to share a paltry sum of five hundred billion Naira in six months.

He said; “The main thing about economic management is the allocation of scarce resources. This means that a person will prioritize scarce resources according to his or her preferences. So, the allocation of 70 billion to the National Assembly is an indication of the priorities of the President and those in leadership position. We keep talking about fighting poverty, but the question I have always asked is how are we fighting it? Today, the President is talking about giving an amount, which is actually 576 billion if you calculate 8 thousand being given to twelve million households for six months.

So, you are talking about an allocation of 576 billion to sixty million people, because the calculation is based on an average of 5 persons per household. But you then have an allocation of 70 billion to less than five hundred people. At the National Assembly, the House of Reps has about 360 members, while the Senate has about 109 members. So, this makes them just about four hundred and seventy members in the National Assembly and the President wants to give them seventy billion, but sixty million people are expected to share 500 billion. This shows the priority of his government.”

SOURCE: YouTube (Forward video to 2:33).

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