Former Vice President Atiku Abubakar has criticized President Tinubu’s 2025 budget, deeming it devoid of necessary structural reforms and fiscal discipline.
Atiku expressed his concerns on X (formerly Twitter), highlighting the APC’s continuous reliance on external borrowing, leading to escalating public debt and record-breaking budget deficits.
He argued that the N48 trillion budget, with a N13 trillion deficit (4% of GDP), perpetuates “business-as-usual” fiscal practices.
The plan to borrow over N13 trillion, including N9 trillion in direct borrowings, echoes previous administrations’ approaches, exacerbating debt risks.
Atiku questioned the budget’s capacity to address Nigeria’s economic challenges, citing weak budgetary execution in 2024, disproportionate debt servicing (equal to planned capital expenditure), unsustainable government expenditure, insufficient capital investment (averaging US$45 per capita), and regressive taxation through VAT increases.
He urged a shift towards more disciplined fiscal policies focused on reducing inefficiencies and promoting long-term sustainability.
