President Tinubu’s 2025 budget for Nigeria, while promising stability and economic growth, is critically flawed. Much of the N54.99 trillion budget is devoted to debt repayment and expenditures, with minimal investment in critical sectors like agriculture and manufacturing. The approach is skewed towards benefiting elites, leaving high unemployment and poverty unaddressed and failing to tackle the country’s significant economic struggles.
Nigeria’s budget for 2025, introduced by President Bola Tinubu, highlights commitments to stability, poverty alleviation, and economic improvement. However, it reveals critical shortcomings that indicate persistent economic challenges. Out of a total allocation of N54.99 trillion, a large portion is earmarked for debt servicing, personnel expenses, and operational costs, restricting funds available for constructive investment in vital sectors.
Sectors like agriculture and manufacturing, which are essential for sustainable economic development, face significant underfunding. While there are indications of investment in technology, the benefits predominantly reach the wealthier segments of society, failing to tackle issues such as rampant unemployment and pervasive poverty. Without a decisive shift towards enhancing productive capacity, this budget is unlikely to transform Nigeria’s pressing economic landscape significantly.
In summary, Nigeria’s 2025 budget may promise stability and growth but is fundamentally flawed. The heavy allocation towards debt servicing and operational expenditures limits productive investments, particularly in critical sectors. Without a robust strategy focusing on job creation and poverty alleviation, Nigeria’s economic challenges will likely persist despite the proposed financial commitments.
Original Source: iafrica.com
