Atiku Abubakar Critiques Nigeria's Proposed 2025 Budget

Former Vice-President Atiku Abubakar has publicly criticized Nigeria's proposed 2025 budget, labeling it insufficient for tackling the country's pressing economic issues and promoting sustainable growth. In a statement issued on Sunday, Abubakar described the budget as a continuation of "business-as-usual" fiscal practices that exacerbate Nigeria's external debt.

With a total budget of N48 trillion and a revenue forecast of N35 trillion, the proposed budget reflects a significant deficit exceeding N13 trillion, or 4% of GDP. Abubakar pointed out that this trend of budget deficits has been a hallmark of the APC-led administration since 2016, which has increasingly relied on external borrowing to bridge the fiscal gap.

 To address this shortfall, the government plans to secure over N13 trillion in new borrowings, including N9 trillion in direct loans and N4 trillion for specific projects.