PDP dismisses Tinubu’s N47.9trn 2025 budget
…Describes it as hopeless, shady, and disingenuous
ABUJA — The Peoples Democratic Party (PDP) has rejected the N47.9 trillion 2025 federal budget estimates presented by President Bola Ahmed Tinubu to the National Assembly.
The PDP described the budget as “anti-people” and warned that its implementation would deepen insecurity, poverty, and hopelessness in the country.
In a statement issued in Abuja, the PDP’s National Publicity Secretary, Hon. Debo Ologunagba, criticized the budget, stating that it confirms the insensitivity of the Tinubu-led All Progressives Congress (APC) government toward the challenges faced by Nigerians. The PDP argued that the budget made no significant provisions for critical sectors such as agriculture, food production, electricity, petroleum, gas, and Small and Medium Enterprises, which are essential drivers of the national economy.
Ologunagba emphasized that the budget address appeared more like a campaign speech, filled with unverified economic statistics, empty promises, and exaggerated claims about past performance. The PDP pointed out the lack of clear steps or mechanisms to address the country’s insecurity, revive the economy, bolster industries, increase food production, stabilize the Naira, reduce living costs, create jobs for youth, and improve citizens’ living standards.
The PDP also expressed disappointment that the 2025 budget failed to offer strategic provisions to reduce the costs of fuel, food, electricity tariffs, and other essential goods and services affecting the populace. Ologunagba added, “President Tinubu dashed the hopes of millions of suffering Nigerians who expected him to use the budget to bring relief.”
The party took issue with the President’s claim that the 2024 budget achieved an 85% performance rate, calling it “bogus” due to the lack of details regarding recurrent and capital expenditure. The PDP also criticized the claim that the economy had improved under Tinubu’s leadership, despite the worsening poverty, collapsing infrastructure, soaring inflation (34.6%), and high unemployment (40%).
Furthermore, the PDP labeled the claim that the 2025 budget would reduce inflation from 34.6% to 15% and strengthen the Naira from N1,700 to N1,500 to the dollar as unrealistic. This, they said, was made without any substantive investments in the productive sector and amid a massive N134.3 trillion debt under the APC administration.
The PDP also raised concerns over the lack of transparency, pointing out that the President failed to disclose the capital and recurrent profiles of the 2025 budget. The party warned that the proposed budget, with a N15.8 trillion provision for debt services and a N13 trillion deficit, would be financed by burdensome taxes on already struggling citizens and businesses. This, they argued, would further cripple the national business environment, discourage investments, depreciate the Naira, increase unemployment, and worsen inflation.
The PDP called on the National Assembly to reject the 2025 budget as presented and exercise its constitutional powers under Sections 80, 81, and 82 to revise the budget and make provisions that would foster economic growth and improve the welfare of Nigerians.
