February 9, 2025
Politics

2025 Budget: Scrutinize bill, avoid padding, allocation of wasteful revenue, PRP urges NASS

By Tunde Opalana

The Peoples Redemption Party (PRP) has urged the National Assembly to thoroughly scrutinize the 2025 Appropriation bill before the parliament in the interest of the nation.

The party faulted the 2025 budget as proposed by the Executive but said it could further be worsened and be a disservice to Nigerians if the budget passed without proper scrutiny by the legislators to cut down on wasteful allocations.

National Chairman of PRP, Dr. Falalu Bello on Monday in a statement issued in Abuja said the 2024 budget currently in operation fell short of its promises”.

This, he said was evidenced by “the stark realities faced by Nigerians: unemployment rates surged, inflation reached an alarming 34.6%, and Nigeria’s GDP contracted.

As a result, he said Nigeria’s status as the second-largest economy in Africa has been compromised, with multinational companies retreating and millions of small businesses shutting down.

Falalu said “the government’s inability to meet critical objectives has led to increased suffering among the populace, underscoring a concerning trend of fiscal irresponsibility.

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“In light of this context, we express our deep concern regarding the recently presented 2025 Appropriation Bill by President Bola Ahmed Tinubu (President BAT).”

Dissecting the 2025 budget with a projected expenditure of N49.7 trillion and a staggering N15.81 trillion earmarked for debt servicing, the party chieftain said the budget reflects a continuing pattern that guarantees further exacerbation of Nigeria’s economic challenges.

“The budget deficit of N13.08 trillion, paired with insufficient revenue generation, poses significant risks to our nation’s financial stability.

“Notably, the 2025 budget allocates a staggering 35% of expenditures to debt servicing, which substantially limits funding for essential sectors such as education, healthcare, and solid mineral development.

“For example, the combined allocation for education and healthcare is a mere N94 billion, while federal legislators are set to receive N125 billion. Such misplaced priorities illustrate a concerning lack of commitment to enhancing the lives of ordinary Nigerians.

“Furthermore, the PRP is alarmed by the presence of opaque budget items that recur year after year without adequate accountability and the absence of clear reporting on the completion status of ongoing projects.

“This lack of transparency raises significant concerns about potential corruption. The proposed funds for electricity supply appear to lack a genuine intent to address the persistent issues in this critical area,” he said.

In light of these alarming developments, the PRP called upon the National Assembly to exercise diligence and thoroughly scrutinize the 2025 appropriation.

The party said “It is imperative that unnecessary and wasteful expenditures are eliminated and that the budget is free from padding or misallocation. Inflated project costs and fiscal irresponsibility will not be tolerated; Nigerians deserve better governance. The Assembly has until March 2025 to fulfill its mandate and safeguard the interests of the Nigerian people.

“We also urge all Nigerians to engage actively and hold the government accountable. The pathways to economic recovery and sustainable growth must be paved with transparency and genuine commitment to the welfare of the citizens.”

We ask you to support the PRP, a party steadfast in its dedication to the Nigerian populace and committed to transformative change in future elections.

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