By Kede Aihie
Nigeria’s 2025 budget, presented by President Bola Tinubu, has been met with skepticism despite its promise of stability, poverty reduction, and economic growth. A closer look at the budget reveals that a substantial portion, approximately 35.4%, is allocated towards debt repayment. This, combined with personnel costs and overheads, leaves a meager amount for productive investments, crucial for sustainable development.
The budget’s allocation has raised concerns about its ability to address Nigeria’s pressing economic issues. Key sectors such as agriculture and manufacturing, vital for sustainable development, have been underfunded. This lack of investment in critical areas may hinder the country’s ability to achieve economic growth and stability. Notably, the budget also seems to benefit the elite, neglecting the pressing issues of high unemployment and poverty.
While some investments in technology show promise, the overall budget falls short of addressing Nigeria’s economic woes. Without a stronger emphasis on productive capacity, the budget is unlikely to alleviate the country’s economic challenges. Consequently, Nigeria’s economic future hangs in the balance, with many questioning whether the budget will deliver the desired outcomes.
