MTEF: Only A Miracle Will Save Nigeria’s Economy From Collapse – Sen. Murray Bruce

MTEF: Only A Miracle Will Save Nigeria’s Economy From Collapse – Sen. Murray Bruce
Senator representing Bayelsa Central, Ben Murray Bruce, on Friday expressed the wish that Nigerians saw the Medium Term Economic Framework (MTEF) sent by the Federal Government to the National Assembly, and they would pray for a miracle.
Based on the document that was rejected by majority of the Senators when presented before them, he tweeted that would realise that only a miracle would “rescue our economy from collapse!”
The Senators had argued that the proposed framework is unrealistic, should be rejected and returned to the executive.
One of the offending portions seems to be a GDP growth rate projection of 3.02 per cent next year for an economy that has recorded negative growth rate for three consecutively quarters this year. This the Senators believe is unrealistic, given that there is nothing on ground today to support such ambitious target.
According to Ms. Stella Oduah, representing Anambra Central, “I don’t know how this will happen; it can’t work because nothing is happening.”
But Senate President Bukola Saraki pleaded that the document be allowed to pass to the committee stage, as the MTEF remains assumptions which can be fine tuned rather being rejected wholesale.
The document was thereafter referred to the committees on finance and appropriations.
 In his Friday morning tweet, Murray Bruce insisted that President Buhari “must shake up his economic management team.”
In doing so, he urged the President to look at the over all best interest of the nation and no other consideration by setting political party yardsticks aside.
He stressed that President Buhari must “forget about who is 5 per cent and who is 97 per cent and go for our best brains!”