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Opposition tags Tinubu’s N47.9tn budget unrealistic

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The Coalition of United Political Parties, the Peoples Democratic Party, and the New Nigeria Peoples Party have criticised President Bola Tinubu’s proposed 2025 budget of N47.9tn, expressing doubts about its feasibility and potential to address Nigeria’s economic challenges.

President Tinubu presented the budget to a joint session of the National Assembly on Wednesday, emphasising its focus on economic recovery and development.

However, opposition parties have flagged various concerns.

The CUPP National Secretary, Peter Ahmeh, highlighted instances of budget duplication and mismanagement, claiming that previous APC-led budgets had not translated into meaningful development.

“Every year, the budget increases, but so does poverty. Resources are being mismanaged, roads are deteriorating, and government expenses are skyrocketing. Without proper reviews and effective implementation, this budget will yield little to no development,” Ahmeh stated.

He also questioned the impact of previous budgets, citing unfulfilled promises and increasing hardships for Nigerians.

The NNPP National Publicity Secretary, Ladipo Johnson, described the budget’s inflation and exchange rate targets as overly optimistic.

Headline inflation in November 2024 was 34.6%, yet the budget sets a target of 15%. To achieve this, inflation would need to drop by 1.63% per month, which seems unrealistic without clear strategies.

Food inflation, driven by insecurity in food-producing areas, accounts for half of the headline inflation, and there’s no significant plan for mechanised farming,” Johnson said

Johnson also questioned the exchange rate projection, which targets a reduction from N1,650 to N1,500 per dollar, and raised concerns about persistent oil theft undermining production targets.

Similarly, the PDP Deputy National Youth Leader, Timothy Osadolor, criticised the budget for its reliance on borrowing and accused the administration of failing to address fundamental economic challenges.

“This budget is filled with rhetoric and unrealistic projections. The government claims to save money while constantly seeking loans. Corruption within the administration undermines any chance of success,” Osadolor said.

He emphasised the struggles of ordinary Nigerians, citing skyrocketing food prices, a declining foreign exchange rate, and a stagnant industrial sector.

“A bag of rice now costs more than the minimum wage of most Nigerians. The National Assembly must prioritise strategies to grow the economy instead of relying on endless borrowing,” he said.

Across the board, the opposition raised questions about the sustainability of the budget and its potential impact on Nigeria’s growing debt burden.

They called on the government to adopt more transparent, realistic, and actionable policies to tackle inflation, enhance food security, and address the structural weaknesses in the economy.

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Politics

Engineers Farouk Ahmed, Gbenga Komolafe resign, President Tinubu nominates successors to the Senate for approval

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President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

 

The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).

 

To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.

 

The two nominees are seasoned professionals in the oil and gas industry.

 

Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.

 

Engineer Saidu Aliyu Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.

 

His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.

 

He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).

 

Engineer Mohammed played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.

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EVENTS

PRESIDENT TINUBU CONGRATULATES SENATOR IFEANYI ARARUME ON HIS BIRTHDAY

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President Bola Tinubu felicitates Senator Ifeanyi Godwin Ararume, astute politician and accomplished businessman, on his birthday, December 16.

Senator Ararume’s odyssey in politics began in the late 1980s, when he served as the State Treasurer of the Liberal Convention in old Imo State. He later joined the National Finance Committee of the defunct National Republican Convention.

He represented Imo North in the 9th National Assembly. He was first elected in May 1999 and re-elected in April 2003. He also served on several committees and held other official roles.

President Tinubu commends the former senator for his years of service to the nation and contributions to its peace, unity, and progress.

The President describes Senator Ararume as a resolute and shrewd politician, highlighting his courageous and remarkable political journey through the years.

President Tinubu wishes Senator Ararume a happy 67th birthday and prays that God Almighty will grant him more years of good health and strength.

 

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Politics

Ndigbo are no longer spectators in the Nigerian project- Minister Dave Umahi dismisses calls for Biafra under Tinubu’s administration

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The Minister of Works, David Umahi, says the all-inclusive style of governance being practiced by President Bola Tinubu has made the agitation for Biafra an unnecessary clamour.

While speaking at the inspection of the Enugu-Anambra road last Saturday, December 13, Umahi said the Tinubu administration had given Ndigbo what they had sought for decades, not through secession, but through what he described as unprecedented inclusion in national governance and development.

He explained that the agitation for Biafra was historically driven by neglect, exclusion and underrepresentation at the federal level, but insisted that the situation had changed under the current administration.

“When a people are fully integrated, respected and empowered within the structure of the nation, the dream they once chased through agitation has already been achieved through cooperation.

The push for Biafran secession over the years was borne out of neglect, exclusion and underrepresentation but today the narrative has changed dramatically under President Bola Tinubu.

The President has deliberately opened the doors of national development to the South-East. Appointments, policy inputs and infrastructure priorities now reflect true federal balance.

Every sector now bears visible Igbo footprints. The emergence of Igbo sons and daughters in strategic positions is a testament to this inclusion.

Biafra was never about breaking Nigeria; it was about being counted in Nigeria. Through inclusion, equity and concrete development, Ndigbo are no longer spectators in the Nigerian project; they are co-authors of its future. When justice finds a people, agitation loses its voice.”he said

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