The Coalition of United Political Parties (CUPP), the Peoples Democratic Party (PDP), and the New Nigeria Peoples Party (NNPP) have criticized President Bola Tinubu’s proposed 2025 budget of N47.9 trillion, expressing doubts about its feasibility and effectiveness in addressing Nigeria’s economic challenges.
President Tinubu presented the budget to a joint session of the National Assembly on Wednesday, emphasizing its focus on economic recovery and development. However, opposition parties have raised various concerns.
CUPP National Secretary Peter Ahmeh highlighted instances of budget duplication and mismanagement, claiming that previous APC-led budgets have not resulted in meaningful development. He stated, “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 also questioned the impact of past budgets, citing unfulfilled promises and increasing hardships for Nigerians.
NNPP National Publicity Secretary Ladipo Johnson described the budget’s inflation and exchange rate targets as overly optimistic. He pointed out that 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,” Johnson noted.
He also raised concerns about the budget’s exchange rate projection, which aims to reduce the rate from N1,650 to N1,500 per dollar, while persistent oil theft continues to undermine production targets.
Similarly, PDP Deputy National Youth Leader Timothy Osadolor criticized the budget for its reliance on borrowing, accusing the administration of failing to address fundamental economic challenges. “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 stated.
He emphasized the struggles of ordinary Nigerians, citing rising 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 prioritize strategies to grow the economy instead of relying on endless borrowing,” he added.
The opposition’s overall stance questions the sustainability of the budget and its potential impact on Nigeria’s growing debt burden. They called on the government to adopt more transparent, realistic, and actionable policies to tackle inflation, enhance food security, and address the structural weaknesses in the economy.
