Critics assail N47.9tr 2025 federal budget, say devoid of inputs to grow economy
By Jeph Ajobaju, Chief Copy Editor
Critics have assailed the proposed 2025 federal budget of N47.9 trillion with doubts about its feasibility and potential to upgrade the economy from consumption to production as citizens desire.
President Bola Tinubu presented the budget to a joint session of the National Assembly (NASS) on Wednesday, stressing its focus on economic recovery and development.
But critics, including the Coalition of United Political Parties (CUPP), Peoples Democratic Party (PDP), and New Nigeria Peoples Party (NNPP), have picked holes in the proposals.
They raised concerns about the sustainability of the budget and its potential impact on the growing national debt, and urged the government to adopt more transparent, realistic, and actionable policies to tackle inflation, enhance food security, as well as structural weaknesses in the economy.
Peter Ahmeh (CUPP National Secretary)
“Every year, the budget increases, but so does poverty. Resources are being mismanaged, roads are deteriorating, and government expenses are skyrocketing.
Without proper reviews and effective implementation, this budget will yield little to no development,” Ahmeh told The PUNCH.
He questioned the impact of previous budgets, recounting unfulfilled promises and increasing hardship for Nigerians.
Ladipo Johnson (NNPP National Publicity Secretary)
“Headline inflation in November 2024 was 34.6 per cent, yet the budget sets a target of 15 per cent. To achieve this, inflation would need to drop by 1.63 per cent per month, which seems unrealistic without clear strategies.
“Food inflation, driven by insecurity in food-producing areas, accounts for half of the headline inflation, and there’s no significant plan for mechanised farming.”
Johnson raised concerns about exchange rate projection, which benchmarks reduction from N1,650 to N1,500 per dollar, and about persistent oil theft undermining production targets.
Timothy Osadolor (PDP Deputy National Youth Leader)
“This budget is filled with rhetoric and unrealistic projections. The government claims to save money while constantly seeking loans. Corruption within the administration undermines any chance of success.
Osadolor also lamented the struggles of ordinary Nigerians, citing skyrocketing food prices, a declining foreign exchange rate, and a stagnant industrial sector.
“A bag of rice now costs more than the minimum wage of most Nigerians. The National Assembly must prioritise strategies to grow the economy instead of relying on endless borrowing,” said.
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