-Atiku Abubakar criticized President Tinubu’s N47.9tn 2025 budget proposal, accusing it of perpetuating the borrowing practices of previous administrations, leading to escalating public debt and fiscal instability.
-The budget proposes N48tn in expenditures against a revenue forecast of N35tn, resulting in a deficit exceeding N13tn (4% of GDP), with plans for over N13tn in new borrowings, including N9tn in loans and N4tn in project financing.
-Atiku argued the budget lacks the structural reforms and fiscal discipline needed to address Nigeria’s economic challenges and claimed the administration’s continued “business-as-usual” practices hinder sustainable economic growth.
-Atiku criticized the 2025 budget’s heavy allocation of N15.8tn (33%) to debt servicing, nearly matching the N16tn (34%) for capital expenditure, which he argued undermines fiscal stability, limits investments, and perpetuates excessive borrowing.
-He highlighted inefficiencies in governance, oversized bureaucracy, and inadequate capital spending as key issues while opposing the VAT increase from 7.5% to 10%, labeling it a regressive policy worsening the cost-of-living crisis.
-Atiku urged the government to adopt disciplined fiscal policies, curb wastage, enhance public spending efficiency, and focus on sustainable investments in critical sectors to drive long-term economic growth.
Peoplesmind
