Atiku: 2025 budget won’t solve Nigeria’s economic problems

Atiku: 2025 budget won’t solve Nigeria’s economic problems

The presidential candidate of the Peoples Democratic Party in the 2023 election, Atiku Abubakar, has stated that the 2025 budget proposal lacks the structural and fiscal discipline needed to address Nigeria’s multifaceted economic challenges.

The former vice president made this disclosure in a statement on Sunday, reacting to the 2025 budget proposal.

Reacting to the budget, Atiku stated that it reflects a continuation of business-as-usual fiscal practices where budgets fail to impact the lives of citizens.

According to him, the 2025 budget’s ability to foster sustainable economic growth and tackle Nigeria’s deep-rooted challenges is questionable.

Atiku also criticised the budget’s reliance on N13 trillion in borrowing to fund the deficit.

“Weak Budgetary Foundations: The 2024 budget’s underperformance signals poor budget execution. By Q3 of the fiscal year, less than 35 per cent of the allocated capital expenditure for MDAs had been disbursed, despite claims of 85 per cent budget execution. This underperformance in capital spending, crucial for fostering economic transformation, raises concerns about the execution of the 2025 budget.

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Atiku: 2025 budget won't solve Nigeria's economic problems

 

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