Nigeria’s 2025 budget, presented by President Bola Tinubu, promises stability, poverty reduction, and economic growth, but there are significant flaws that suggest it won’t alleviate the country’s pressing economic issues. Despite allocating a substantial N54.99 trillion, much of the budget will go toward debt repayment, personnel costs, and overheads, leaving little for productive investments. Key sectors like agriculture and manufacturing, crucial for sustainable development, are underfunded. Although some investments in technology are promising, the budget largely benefits the elite and fails to address high unemployment and poverty. Without a stronger focus on productive capacity, the budget will leave Nigeria’s economic challenges largely unchanged.
Source: The Conversation