CUPP raises concern over 2025 budget

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The administration of President Bola Tinubu has been urged by the Coalition of United Political Parties, or CUPP, to make sure that the 2025 budget is in line with the nation’s development objectives.

In a statement released by party secretary, Peter Ameh, CUPP also called on the government to make sure that funds are distributed in a way that will have the greatest possible 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.

The allocation, according to CUPP, raises concerns about the government’s priorities and capacity to spur economic growth because it implies that a sizable amount of Nigeria’s income will go towards debt repayment rather than investments in vital areas like infrastructure, healthcare, and education.

The group pointed out that the funding allocation is especially worrisome in light of the Finance Minister’s disclosure that the last budget did not perform well, with capital budget execution standing at a mere 25 percent for the 2024 term.

The poor performance, according to CUPP, calls into question the government’s capacity to carry out its budget and spur economic expansion.

“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.

Capital projects, which make up about 26% of the overall budget, have the potential to spur economic growth and development, according to CUPP, which also emphasised that the N13 trillion allotment might not be enough to address the nation’s infrastructure deficiencies and other development issues.

According to the group, Nigeria has substantial infrastructure needs, and funding for capital projects might not be sufficient to make a difference.

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