It would be mischief on the part of this column if we subscribed to the bandwagon of elitist Nigerians whose stock in trade is the creation of false hope of a better year ahead at the end of every dismal year. If truth be told, poverty has ravaged the vast majority of our people and in spite of bountiful dollar reserves, over 80% of Nigerians are believed to live on less than $1 a day, and our country is now listed amongst the world's poorest nations. The reality is that we have no right to expect any change for the better since no serious attempt is being made to tackle the main cause of our inability to turn our best ever harvest years into a sustainable platform for improved social welfare for the majority of our people.
The 2010 federal expenditure budget is just a little over N4000bn! Meanwhile, about N2500bn will be allocated for recurrent expenditure such as salaries, and allowances for the sustenance of the welfare of less than 1% of Nigerians, while the sum of N1500bn is projected for capital expenditure; a significant portion of which will be looted through brazen scams with respectable and revered public servants as major actors!
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