Former Vice-President Atiku Abubakar has told the executive that the budget planned for 2021 is no longer viable.
He said Nigeria is broke and could not afford luxury things in the N13.08 trillion budget proposal.
The advice comes as Nigeria slid into a second recession in 5 years after 2 consecutive negative quarters of growth.
Atiku said in a Twitter feed on Sunday that COVID-19 had only complicated an established economic issue.
“We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions.
“For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable.
“Nigeria neither has the resources nor the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation to being a broken nation.
“Until our economic prospects improve, Nigeria ought to exclusively focus on making budgetary proposals for essential items, which include reasonable wages and salaries, infrastructural projects, and social services (citizenry’s health, and other human development investments).”
The various committees of the National Assembly are still working on the budget.