The Coalition of United Political Parties, CUPP, has enjoined the President Bola Tinubu-led administration to ensure that the 2025 budget is aligned with the country’s development goals.
CUPP, in a statement by its secretary, Peter Ameh, also urged the government to ensure that resources are allocated in a way that maximizes impact.
“When all is said and done, the success of the 2025 budget will depend on the government’s ability to implement its priorities effectively and efficiently.
“The 2025 Nigerian budget, totaling 49 trillion naira, has raised concerns about the country’s ability to achieve meaningful development.
“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,” the statement said.
CUPP noted that the allocation raises questions about the government’s priorities and its ability to drive economic growth, saying that 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 organization noted that 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 percent for the 2024 year period.
According to CUPP, the 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 percent of the total budget, may not have a direct impact on the country’s development.
“These expenses are often related to the day-to-day operations of government agencies, salaries, and other administrative costs. While these expenses are necessary, they do not contribute significantly to the country’s economic growth or development,” the statement observed.
CUPP further noted that capital projects, which account for around 26 percent of the total budget, have the potential to drive economic growth and development, stressing that the allocation of N13 trillion may not be sufficient to address the country’s infrastructure deficits and other development challenges.
The group opined that Nigeria’s infrastructure needs are significant, and the allocation for capital projects may not be enough to make a meaningful impact.
