Assessing the Limitations of Nigeria’s 2025 Budget on Economic Recovery
The budget presented for 2025 by President Bola Tinubu pledges economic stability and poverty alleviation but falls short in execution. With a large portion of N54.99 trillion allocated to debt and operational costs rather than key sectors, the budget does not effectively tackle unemployment and poverty. Although some technology investments are positive, the overall impact is skewed towards benefiting the elite.
Nigeria’s 2025 budget, unveiled by President Bola Tinubu, claims to aim for economic stability and poverty reduction. However, critical assessments reveal substantial shortcomings that undermine these promises. A significant portion of the allocated N54.99 trillion is earmarked for debt repayment, personnel expenses, and overhead costs, resulting in minimal investment for productive economic initiatives.
In summary, the 2025 budget of Nigeria exhibits promising rhetoric regarding poverty reduction and economic growth. Nevertheless, due to its flawed allocation focusing more on debt and operational costs than on vital sectors such as agriculture and manufacturing, it is unlikely to effectively address the deep-rooted economic challenges. A reevaluation towards enhancing productive capacity is essential for meaningful change.
Original Source: iafrica.com
