2025 budget has unrealistic revenue projection – Adebayo

Former presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has said the revenue projection for 2025 budget would be impossible to achieve.

Adebayo noted that most agencies of the federal government have failed to be transparent in remitting revenues to the government coffers.

In a statement on Tuesday, Adebayo particularly pointed at the case of the Nigerian National Petroleum Corporation Limited (NNPCL), Nigeria Customs Service, and the Federal Inland Revenue Service (FIRS), which are billed to generate a significant portion of the country’s revenue.

Naija News reported the 2025 budget revenue projection was put at ₦36.35 trillion. The federal government hoped that Customs would generate ₦6.5 trillion in 2025, while the FIRS would also increase its revenue by 2025.

The SDP chieftain, however, said they are “unrealistic revenue projections” because of the “lack of transparency in the allocation of funds across key government…