Opposition groups have raised doubts about the practicality of President Bola Tinubu’s ₦47.9 trillion budget for 2025, questioning its ability to tackle Nigeria’s ongoing economic challenges.
Opposition Criticisms
CUPP’s Concern: Peter Ahmeh, the National Secretary of the Coalition of United Political Parties (CUPP), criticized the budget for failing to address the country’s recurring issues of mismanagement and poverty despite annual budget increases. He stressed the need for better planning and implementation to ensure the budget drives real change.
NNPP’s Doubts: Ladipo Johnson, spokesperson for the New Nigeria Peoples Party (NNPP), pointed out that the budget’s targets, like inflation and exchange rates, seemed overly optimistic. With inflation at 34.6% in November 2024, he doubted the feasibility of bringing it down to 15% within a year. Johnson also questioned the assumption that oil production targets could be met while oil theft remains a problem.
PDP’s Criticism: Timothy Osadolor of the Peoples Democratic Party (PDP) criticized the budget’s heavy reliance on borrowing and called out the administration for offering unrealistic projections instead of addressing the real economic struggles Nigerians face, such as rising food prices and a declining exchange rate.
Raising Red Flags
Opposition parties are concerned about the budget’s reliance on borrowing and its impact on Nigeria’s growing debt. They are calling for more realistic policies that focus on curbing inflation, improving food security, and fixing the economy’s structural issues.
As lawmakers continue to review the budget, these criticisms highlight the need for careful consideration to ensure that the budget truly reflects Nigeria’s economic realities and addresses the country’s pressing challenges.
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