The Peoples Democratic Party (PDP) has described the 2025 federal budget proposed by President Bola Ahmed Tinubu as anti-people.
Opposition parties warned that the implementation of the budget would worsen security, poverty and despair across the country.
According to a report by Naija News, the President announced the 2025 Budget at a joint session of Parliament, which includes N4.91 trillion for defense and security, N4.06 trillion for infrastructure, N2.48 trillion for health, Allocated £3.52 trillion to education.
However, on Wednesday, through a statement by the National Publicity Secretary, Mr. Debo Ologunagba, the PDP alleged that the budget was unrealistic, opaque and dishonest.
They criticized the budget, claiming it was riddled with unverified economic figures and empty campaign promises.
The party accused the Tinubu-led government of failing to make meaningful investments in critical sectors such as agriculture, power, oil and small and medium enterprises.
“The 2025 federal budget of N47.9 trillion is an anti-people proposal that, if implemented, will plunge the country further into insecurity, poverty and despair,” the statement read.
PDP further decried the budget’s lack of transparency, particularly regarding the details of capital and recurrent expenditures.
“The budget speech was more of a campaign rhetoric, filled with unsubstantiated economic statistics, false promises and touting achievements. , there was a lack of a clear strategy to reduce the cost of living,” the statement continued.
The party expressed regret at the president’s claim that the implementation rate of the 2024 budget would be 85% without providing a breakdown of capital and current expenditures.
The PDP also described Mr Tinubu’s claims that the 2025 budget would reduce inflation from 34.6% to 15% and improve the naira exchange rate from 1,700 to 1,500 pounds to the dollar as “ridiculous”. .
“With a staggering debt of NOK 134.3 trillion and no concrete investments in the productive sector, these predictions are nothing more than voodoo economics,” PDP said.
The party said the budget deficit, projected to reach ₦13 trillion, and over-reliance on taxes will further burden already impoverished people and businesses, shrinking the economy and inhibiting domestic and foreign investment. I warned you that it would happen.
