OrderPaperToday – Senator Dino Melaye (PDP, Kogi) has claimed that the economy is suffering and will continue to suffer following the re-election of President Muhammadu Buhari.
Melaye spoke today during the debate on the 2019 budget on the floor of the Senate. The Kogi-West Senator argued that the budget has “nothing for the poor masses” before giving his prediction for the economy under President Buhari.
His words: “Inflation is on the rise, unemployment is on the increase, yet we have a budget that has nothing for the poor masses of this country. I challenge the proponents of the 2019 budget to show where provisions have been made for the talakawas and the have nots.
“There is no longer foreign investment in Nigeria. Before the end of May, except there is a miracle, dollars will rise to N500 to one dollar because we have depleted our foreign reserves.
“After the announcement of Muhammadu Buhari as President-elect, the stock market has lost of over N300 billion.
“I want to say that there will be devaluation of the naira.”
The Kogi Senator also accused the Federal Government of being hypocritical with the issue of fuel subsidy, predicting that the government will soon deregulate.