Former Vice President, Atiku Abubakar has advised the Federal Government to cut cost of governance and shun luxury in order to cope with the economic downturn that comes with a pandemic.
The former vice President said the recent downward review of the 2020 budget by 0.6% was a mere window dressing as he advised the FG to sell off some Jets in the Presidential fleet and scrap the N27bn earmarked for the renovation of the National Assembly.
Atiku said in a statement on Thursday, where he explained that crude oil production as well as revenue have been badly affected by the COVID-19 pandemic.
He said the 2020 budget should have been slashed by at least 25% given the present economic realities cashed by the pandemic.
Atiku then went ahead to state areas where the FG should cut costs
Atiku also advised the Federal Government not to make up for shortages in revenue by issuing bonds and taking more loans.