Former Vice President Atiku Abubakar has criticized the 2025 federal budget, describing it as inadequate to address Nigeria’s structural challenges and a “recipe for economic stagnation.”
In a statement released via his official social media account, Atiku noted that the N48 trillion budget, with a revenue forecast of N35 trillion and a deficit exceeding N13 trillion, represents a continuation of “business-as-usual fiscal practices” by the APC-led administration.
The 2025 budget proposes over N13 trillion in new borrowings, including N9 trillion in direct borrowing and N4 trillion in project-specific loans.
Atiku argued that this approach mirrors previous administrations and exacerbates public debt, increasing risks related to interest payments and foreign exchange exposure.
He highlighted several key issues with the budget which include weak budgetary foundation, high debt servicing costs, bloated recurrent expenditure, insufficient capital investment and regressive tax policies.
Atiku criticized the planned VAT increase from 7.5% to 10%, calling it a regressive measure that will worsen the cost-of-living crisis and stifle economic growth.
Atiku concluded that the budget lacks the structural reforms needed to address Nigeria’s economic challenges.
He urged the government to prioritize efficiency, tackle contract inflation, and adopt a disciplined fiscal policy focused on sustainable growth.
“The nation cannot afford to continue on this trajectory of unsustainable borrowing and inefficient spending,” Atiku warned.
