Tinubu’s 2025 Budget: Where The Opposition Got It Wrong
By Gidado Ibrahim
Last week, President Bola Ahmed Tinubu Presented N47.90 trillion as the proposed budget for 2025 to the National Assembly. The budget has sparked intense debate among cynics in the opposition, with some labeling the projections as unrealistic and others applauding it. The proposed budget aims to tackle inflation, currently at 34.6%, and reduce it to 15% by next year.
But the appropriation bill titled, “2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity,” is a bumper document designed to addres the many challenges confronting Nigerians in the coming year. The sectoral benefits of the budget are numerous, with significant allocations to security, education, healthcare, and infrastructure development.
For instance, infrastructure encompasses various physical and organisational structures that support the operation of a society. Transportation systems, including roads, highways, bridges, airports, and public transportation, facilitate the movement of people and goods, playing a crucial role in economic growth and development.
The provision of energy and utilities, such as power plants, transmission lines, water treatment facilities, and pipelines, is essential for supporting daily life and economic activity.
Communication networks, comprising internet, phone, and postal services, enable rapid exchange of information and facilitate global connectivity, which is vital for businesses, education, and social interactions. Public buildings and facilities, such as schools, hospitals, government offices, and community centers, serve as vital hubs for social interaction, education, healthcare, and governance.
These institutions provide essential services that support the well-being and development of individuals and communities. Furthermore, water and waste management systems, including sewage treatment plants, waste management facilities, and irrigation systems, are crucial for maintaining public health and environmental sustainability.
The effective management of these systems is essential for preventing the spread of diseases, protecting the environment, and promoting economic growth. In addition, infrastructures have a significant impact on the quality of life, economic productivity, and social well-being. Well-planned and well-maintained infrastructures can improve living standards, reduce poverty, and promote sustainable development.
On the other hand, inadequate or poorly maintained infrastructures can hinder economic growth, exacerbate poverty, and undermine social stability. Therefore, it is essential to invest in the development and maintenance of infrastructures to support economic growth, improve living standards, and promote sustainable development.
In the proposed 2025 budget, the education sector, for instance, has been allocated N3.5 trillion, which will improve the quality of education, increase access to education, and reduce the number of out-of-school children. The healthcare sector has been allocated N2.4 trillion, which will improve healthcare infrastructure, increase access to healthcare services, and reduce healthcare costs.
The infrastructure development allocation of N4.06 trillion will improve the road network, enhance power supply, and expand the railway network. These investments will have a positive impact on economic growth, job creation, and poverty reduction.
Ultimately, the success of the budget will depend on the government’s ability to manage the economy effectively, address the concerns of experts, and ensure that the budget is aligned with the needs and aspirations of the Nigerian people.
President Bola Tinubu’s triumphant entry into Lagos after the budget presentation has been a topic of discussion, with some people misunderstanding the context of Speaker Tajudeen Abbas’s statement. Abbas had said, “Congratulations sir, we will come and see you in Lagos,” which is definitely a harmless comment, especially since it is the festive season and there is a common practice for top government officials to visit each other during holidays.
However, opposition cynicism and misinformation have fueled skepticism around the statement. Some people have questioned why Abbas and Tinubu couldn’t meet in Abuja, while others have speculated about the meaning behind Speaker’s words.
The massive turnout of jubilant Lagosians to welcome President Tinubu is indeed a testament to his popularity, despite the opposition’s attempts to discredit him. This show of support is a clear indication that Tinubu’s message resonates with the people, and he remains a strong contender in the political arena.
However, it’s also important to acknowledge that in Nigeria, politics can be complex, and perceptions can be influenced by various factors. As mentioned, manipulation is not uncommon in Nigerian politics.
Now that President Tinubu remains popular, the opposition should focus on regrouping and working towards getting elected instead of constantly criticizing him. The opposition parties, particularly the People’s Democratic Party (PDP) and the Labour Party, have been unable to effectively challenge President Tinubu’s policies and agenda.
To regain relevance, the opposition should develop alternative policies and programs that address the country’s economic challenges, such as the high inflation rate and fuel subsidy removal. They should also work on rebuilding their party structures and mobilizing their base to increase their chances of winning elections.
Moreover, the opposition should learn from Tinubu’s successful strategies, such as his ability to connect with the masses and his effective use of the media. By adopting a more pragmatic approach, the opposition can increase their chances of winning elections and providing a credible alternative to the Tinubu administration.
Some of the key areas the opposition should focus on include developing alternative economic policies that address the country’s high inflation rate, fuel subsidy removal and other economic challenges, rebuilding their party structures and mobilizing their base to increase their chances of winning elections, developing an effective media strategy to connect with the masses and counter Tinubu’s media dominance, mobilizing their supporters at the grassroots level to increase their chances of winning elections.
In conclusion, the reality on ground cannot be distorted. Since President Tinubu assumed office, Nigeria’s economy has witnessed significant transformation, particularly in the budget circle and capital spendings. The country’s economic reforms, aimed at driving 3.76% growth in 2024, have started yielding positive results.
One of the key areas of focus for the Tinubu administration has been the stabilization of the budget circle. This has been achieved through various fiscal and monetary policies, including the removal of fuel subsidy, unification of the naira exchange rate, and increased investments in infrastructure. These measures have not only boost the economy but also freed up over N1 trillion annually for investment in critical sectors such as healthcare, education, and social welfare programs.
Another significant development has been the steady rise in capital spendings. The 2025 budget has emphasized critical infrastructure projects, aiming to lower the cost of doing business and improve living standards. Significant investments are planned in energy, transportation, and renewable energy sectors, which will have a positive impact on the economy and create jobs.
The Tinubu administration’s efforts to address longstanding economic issues and foster a more stable and prosperous economic environment are commendable. The total labour force in Nigeria is expected to rise to 78.14 million in 2025, with the employment rate forecasted to increase to 82.02 percent. These projections indicate a bright future for Nigerians, and it’s indeed a matter of time before the country enters its best season.
As for the clueless opposition, it’s high time they surrendered and supported President Tinubu’s ongoing war against corruption. Imagine a situation where about N30billion funds meant fornconstituency projects the 36 states of the federation went missing just like that.
The states also claimed they spent N1.39trn on health in 2023, with nothing to show for it – o hospitals and other health facilities to justify such humongous spending. This is absurd! Rather, the criticisms should be targeted at state governors for not providing positive changes in their local government areas.
During an end of the year professional retreat organised by Continental Leadership and Economics Development in kano to scrutinize the African economic policies, President Tinubu’s performance so far on economic reforms scored higher without sentiment or regional politics, when compared with other nations’ global economic outlook.
As the government continues to work towards fulfilling its economic promises, Nigerians can expect a more stable and prosperous economy. With the current trajectory, it’s clear that President Tinubu’s administration is committed to driving growth, creating jobs, and improving the overall standard of living in Nigeria.
Let me use this opportunity to wish my teeming readers and audience a very merry Christmas in arrears, and a Happy New Year in advance! See you next year.