By: Bayero Ade
The Peoples Democratic Party (PDP) has strongly condemned President Bola Tinubu’s 2025 budget proposal, describing it as “hopeless” and “anti-people.”
In a statement released by its National Publicity Secretary, Debo Ologunagba, the party expressed concern that the proposed ₦47.9 trillion budget would exacerbate insecurity, poverty, and economic hardship in Nigeria.
The PDP criticized the budget for its lack of substantial investment in critical sectors such as agriculture, electricity, petroleum and gas, and Small and Medium Enterprises (SMEs), which are essential drivers of the national economy.
The party also dismissed President Tinubu’s claims of an 85% performance rate for the 2024 budget and economic improvements under his administration, calling them “bogus” and “unsubstantiated.”
According to the PDP, the budget fails to disclose the Capital and Recurrent expenditure profiles, raising concerns about transparency. The party further warned that the proposed budget would increase taxes, worsen inflation, depreciate the Naira, and push millions of Nigerians further into poverty.
Highlighting the mounting national debt under the current administration—now at ₦134.3 trillion ($91.3 billion)—the PDP questioned the feasibility of Tinubu’s projections, such as reducing inflation from 34.6% to 15% and strengthening the Naira from ₦1,700 to ₦1,500 per dollar, without clear plans for significant investments in productive sectors.
The party criticized the proposed allocation of ₦15.8 trillion for debt servicing out of a projected ₦34.8 trillion revenue, which leaves a ₦13 trillion deficit. It argued that this deficit would likely be financed through oppressive taxes and levies on already burdened citizens and businesses, further crippling the economy.
The PDP also decried the President’s failure to outline strategies for reducing the cost of fuel, food, and other essential services, accusing him of ignoring the suffering of Nigerians.
The statement urged the National Assembly to reject the budget in its current form, invoking its constitutional powers to restructure the proposal and include provisions that would spur economic growth and improve citizens’ welfare.
The party called on Nigerians to hold the government accountable, emphasizing that the 2025 budget, as presented, risks deepening the country’s economic challenges and eroding public trust in governance.
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