The Coalition of United Political Parties (CUPP), the Peoples Democratic Party (PDP), and the New Nigeria Peoples Party (NNPP) have criticised President Bola Tinubu’s proposed 2025 budget of N47.9tn, expressing doubts about its feasibility and potential to address Nigeria’s economic challenges.
Tinubu presented the budget to a joint session of the National Assembly on Wednesday, emphasising its focus on economic recovery and development.
However, opposition parties have expressed a variety of concerns.
The CUPP National Secretary, Peter Ahmeh, cited instances of budget duplication and mismanagement, stating that prior APC-led budgets had not resulted in substantial growth.
“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 stated.
He also questioned the effectiveness of previous budgets, citing unmet promises and growing problems for Nigerians.
Ladipo Johnson, the NNPP National Publicity Secretary, condemned the budget’s inflation and exchange rate projections as excessively optimistic.
“Headline inflation in November 2024 was 34.6%, yet the budget sets a target of 15%. To achieve this, inflation would need to drop by 1.63% 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 said.
Johnson also questioned the exchange rate prediction, which calls for a fall from N1,650 to N1,500 per dollar, and expressed concerns about ongoing oil theft weakening production projections.
Similarly, Timothy Osadolor, the PDP’s Deputy National Youth Leader, blasted the budget’s reliance on borrowing and accused the administration of failing to address core economic issues.
“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 said.
He underlined average Nigerians’ problems, citing rising food prices, a falling foreign exchange rate, and a stagnating 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,” he said.
Across the board, the opposition questioned the budget’s sustainability and its prospective impact on Nigeria’s mounting debt burden.
They urged the government to implement more transparent, practical, and concrete policies to combat inflation, improve food security, and address structural flaws in the economy.
