PDP Rejects Tinubu’s N47.9trn 2025 Budget Proposal

The Peoples Democratic Party (PDP) has rejected President Bola Tinubu’s proposed N47.9 trillion 2025 federal budget, calling it “hopeless, shady, and disingenuous.”

In a press statement, National Publicity Secretary Debo Ologunagba stated the budget lacks investment in critical sectors including agriculture, electricity, petroleum, and Small and Medium Scale Enterprises (SMEs).

“The 2025 budget as proposed will shrink our national business environment, further cripple the productive sector, discourage domestic and foreign investors, lead to further depreciation of the Naira, worsen unemployment and inflation rate and push million more Nigerians into abject poverty and invariably heighten insecurity,” the opposition party said.

The PDP challenged Tinubu’s economic projections, particularly plans to reduce inflation from 34.6% to 15% and improve the naira’s value from N1,700 to N1,500 per dollar. The party pointed to Nigeria’s N134.3 trillion debt and criticized the budget’s N13 trillion deficit, which it says will be funded through increased taxes and levies.

“Given the crippled national productive sector, it is clear that with the N47.9 trillion expenditure including N15.8 trillion provision for Debt Services, the projected N34.8 trillion revenue with N13 trillion deficit will be financed by excruciating taxes and levies on already impoverished citizens and companies operating in the country,” the statement reads.

According to the opposition party, the absence of clear breakdowns for recurrent and capital expenditure raises transparency concerns. The budget includes N15.8 trillion for debt services and projects N34.8 trillion in revenue.

The PDP countered Tinubu’s claims of economic improvement, citing current levels of poverty, inflation, and unemployment. The party warned the budget would further shrink the business environment, discourage investments, and increase poverty rates.

“Further distressing is President Tinubu’s claim that the economy improved under his watch even in the face of acute poverty, excruciating hardship, comatose infrastructure, collapsed productive sectors, and deteriorating value of the naira,” the statement said.

Calling for intervention, the PDP has urged the National Assembly to exercise its constitutional powers under Sections 80, 81, and 82 of the 1999 Constitution to revise the budget. The party advocates for allocations that stimulate economic growth and improve citizens’ welfare.

The budget proposal, presented to the National Assembly on Wednesday, faces scrutiny as lawmakers prepare to review its provisions.