The Peoples Democratic Party (PDP) has condemned the 2025 budget proposal put forward by President Bola Ahmed Tinubu, labelling it as “unrealistic, opaque, and insincere.”
In a statement released on Wednesday, PDP National Publicity Secretary Debo Ologunagba described the budget as anti-people and cautioned that its implementation would exacerbate insecurity, poverty, and despair throughout the nation.
Tinubu presented a budget proposal of N49.7 trillion during a joint session of the National Assembly, earmarking N4.91 trillion for defence and security, N4.06 trillion for infrastructure, N2.48 trillion for healthcare, and N3.52 trillion for education.
However, the opposition party challenged the budget presentation, alleging it is fraught with unverified economic data and empty campaign promises.
“The N49.7 trillion 2025 federal budget is a proposal that is distinctly anti-people and, if enacted, will plunge the nation further into insecurity, poverty, and hopelessness,” the statement declared.
The PDP accused the Tinubu administration of neglecting to make meaningful investments in critical sectors such as agriculture, electricity, petroleum, and small and medium-sized enterprises.
It criticised the budget’s lack of clarity regarding both capital and recurrent expenditure details and expressed concern over the President’s claim of an 85% performance rate for the 2024 budget without providing a breakdown between capital and recurrent expenditures.
“The budget address resembled more of campaign rhetoric, overflowing with unsubstantiated economic statistics, false promises, and manipulated performance claims. It fails to outline clear strategies to combat insecurity, revive the economy, create jobs, and reduce the cost of living,” the statement added.
The PDP also dismissed as “ludicrous” Tinubu’s assertion that the 2025 budget would reduce inflation from 34.6% to 15% and improve the Naira’s exchange rate from N1,700 to N1,500 per dollar.
The PDP called on the National Assembly to reject the 2025 budget in its present form, urging it to exercise its constitutional powers to amend the proposal so that it prioritises economic growth and the welfare of citizens.
“With a staggering N134.3 trillion debt and no substantial investment in the productive sector, these forecasts amount to nothing more than voodoo economics,” the PDP stated.
“The National Assembly must ensure that the budget addresses the genuine needs of Nigerians by including provisions that are vital to economic recovery and social stability,” the statement concluded.
