The Conference of United Political Parties (CUPP), has said a critical analysis of the 2025 budget as presented to the National Assembly by President Bola Tinubu raises serious concerns about Nigeria’a seriousness to achieve meaningful development. National Secretary of the CUPP, Chief Peter Ameh said this in Abuja, on Monday.
According to him, the 49 trillion Naira 2025 budget, lays greater emphasis on debt servicing and recurrent spending than it does on critical areas such as education, health and infrastructure.
Ahmeh said, “A staggering 16 trillion naira, roughly 32% of the total budget, is allocated towards debt servicing.
“This leaves 33 trillion naira for other expenditures, with 14.2 trillion naira dedicated to recurrent expenses and 13 trillion naira for capital projects.
“This allocation raises questions about the government’s priorities and its ability to drive economic growth.
“The significant amount dedicated to debt servicing suggests that a substantial portion of Nigeria’s revenue will be spent on paying off debts rather than investing in critical sectors like education, healthcare, and infrastructure.
“The allocation of funds is particularly concerning given the Minister of Finance’s revelation that the last budget performed poorly, with capital budget implementation standing at only 25 per cent for the 2024 years.
“This underperformance raises questions about the government’s ability to effectively implement its budget and drive economic growth.
Furthermore, the recurrent expenses, which account for approximately 29 per cent of the total budget, may not have a direct impact on the country’s development.
Credit: vanguardngr.com
