Politics
2025 budget cannot address Nigeria’s economic challenges – Atiku

The presidential candidate of the Peoples Democratic Party in the 2023 election, Atiku Abubakar, has stated that the 2025 budget proposal lacks the structural and fiscal discipline needed to address Nigeria’s multifaceted economic challenges.
The former vice president made this disclosure in a statement on Sunday, reacting to the 2025 budget proposal.
Recall that President Bola Ahmed Tinubu last week presented a N49.7 trillion 2025 budget to the National Assembly. The President had based the budget on key economic assumptions, including a N36.36 trillion revenue target, inflation reduction to 15.75 per cent, an exchange rate of N1,500 per dollar, oil production at 2.06 million barrels per day, a crude oil price of $70 per barrel, and a N13.39 trillion budget deficit.
Reacting to the budget, Atiku stated that it reflects a continuation of business-as-usual fiscal practices where budgets fail to impact the lives of citizens.
According to him, the 2025 budget’s ability to foster sustainable economic growth and tackle Nigeria’s deep-rooted challenges is questionable.
Atiku also criticised the budget’s reliance on N13 trillion in borrowing to fund the deficit.
“Weak Budgetary Foundations: The 2024 budget’s underperformance signals poor budget execution. By Q3 of the fiscal year, less than 35 per cent of the allocated capital expenditure for MDAs had been disbursed, despite claims of 85 per cent budget execution. This underperformance in capital spending, crucial for fostering economic transformation, raises concerns about the execution of the 2025 budget.
“Disproportionate Debt Servicing: Debt servicing, which accounts for N15.8 trillion (33 per cent of the total expenditure), is nearly equal to the planned capital expenditure (N16 trillion, or 34 per cent). Moreover, debt servicing surpasses spending on key priority sectors such as defence (N4.91 trillion), infrastructure (N4.06 trillion), education (N3.52 trillion), and health (N2.4 trillion). This imbalance will likely crowd out essential investments and perpetuate a cycle of increasing borrowing and debt accumulation, undermining fiscal stability.
“Unsustainable Government Expenditure: The government’s recurrent expenditure remains disproportionately high, with over N14 trillion (30 per cent of the budget) allocated to operating an oversized bureaucracy and supporting inefficient public enterprises. The lack of concrete steps to curb wastage and enhance the efficiency of public spending exacerbates fiscal challenges, leaving limited resources for development.
“Insufficient Capital Investment: After accounting for debt servicing and recurrent expenditure, the remaining allocation for capital spending—ranging from 25 per cent to 34 per cent of the total budget—is insufficient to address Nigeria’s infrastructure deficit and stimulate growth. This amounts to an average capital allocation of approximately N80,000 (US$45) per capita, which is insufficient to meet the demands of a nation grappling with slow growth and infrastructural underdevelopment.
“Regressive Taxation and Economic Strain: The administration’s decision to increase the VAT rate from 7.5 per cent to 10 per cent is a retrogressive measure that will exacerbate the cost-of-living crisis and impede economic growth. By imposing additional tax burdens on an already struggling populace while failing to address governance inefficiencies, the government risks stifling domestic consumption and further deepening economic hardship.
“The 2025 budget lacks the structural reforms and fiscal discipline required to address Nigeria’s multifaceted economic challenges. To enhance the budget’s credibility, the administration must prioritise the reduction of inefficiencies in government operations, tackle contract inflation, and focus on long-term fiscal sustainability rather than perpetuating unsustainable borrowing and recurrent spending patterns. A shift toward a more disciplined and growth-oriented fiscal policy is essential for the nation’s economic recovery,” he stated.
News
Lagos HoA Crisis: Let Obasa Stay, Tinubu Tells Lawmakers

President Bola Tinubu has instructed lawmakers of the Lagos State House of Assembly to allow the impeached and reinstated Speaker, Mudashiru Obasa, to continue leading the house.
The President made this position known when he met with the lawmakers at the State House in Abuja on Wednesday.
As reported earlier, this is the first time President Tinubu is meeting the lawmakers since the crisis began in the house January 13, 2025.
One of the lawmakers told newsmen that ” Obasa is staying. We will obey the president. What we had was a family meeting. The President condenmed Obasa’s actions but blamed us for not carring him (Tinubu) along during the impeachement execrise”.
However, the lawmaker said President Tinubu warned Obasa to carry everyone along.
” He also warned him (Obasa) that if there were any future complaints from any quarters, he would be gone. “The President said he should let peace reign; and so based on that, we have accepted.”
On the pending matter in court, the source said: “The President has instructed him to withdraw it.”
Politics
Fubara not sincere, playing to gallery – Rivers Assembly

The Rivers State House of Assembly has disagreed with the claims by the State Governor, Siminalayi Fubara, that he was blocked from entering the House to re-present his 2025 Appropriation Bill.
The House said it never received any official communication from the governor indicating his interest to bring his appropriation bill to the floor of the House.
Spokesperson of the House and Chairman, House Committee on Information, Enemi George, described the claims of the governor as a mere comedy skit scripted to paint the House in bad light.
George recalled that on March 3, the House of Assembly wrote to the governor requesting him to bring his 2025 appropriation bill to the lawmakers following the judgement of the Supreme Court.
He said: “We were the ones, who immediately after that judgement appealed to the governor to bring his appropriation bill. We acted immediately because we have the interest of the state at heart and didn’t want Rivers people to suffer any harm.
“Despite withholding our entitlements for over a year and demolishing our chambers, we still wanted him to hasten up the presentation in the interest of the progress of Rivers.
“We indicated our intentions in that letter and even gave him a timeframe because of the urgency of the matter. To regularise his appointments, we also urged him during our subsequent sitting to submit the names of his nominees for the positions of commissioners and some boards’ membership for screening and confirmation.
“But, the governor rebuffed our pleas. We sent employees of the Assembly to deliver these resolutions to him. But, as usual, they turned them down at the gate and even brutalized them. We resorted to engaging the services of a courier company.
“But, he still did not heed our call forgetting that there are essential services like hospitals, schools and others to be funded. Our intention was to finish everything about the budget on March 15, so that we could send necessary information and documents to relevant agencies of the government to allow the release of Rivers allocations at the end of March. But, with what he is doing, we don’t know what he wants to achieve.
“How can he turn around to claim that we blocked him from re-presenting his budget? This is the height of insincerity. We even need the budget to be passed because the governor has been owing us our entitlements for more than a year and without the budget, we can’t get our entitlements.
“The governor and his team simply and deliberately acted Wednesday’s drama with a singular motive to tarnish the image of the Assembly. The governor is simply playing to the gallery to whip up unnecessary sentiments. But, it has backfired because the truth has come out”.
Besides, George insisted that the letter the governor claimed that he sent to the Speaker never got to him, adding that it was after the Wednesday’s sitting that the lawmakers saw the letter flying on social media.
He said: “But, even the letter trending on social media was dated March 11. Does it mean that the governor purportedly sent a letter on Tuesday God knows when, and immediately mobilised to the Assembly Quarters on Wednesday morning, claiming he came to present his budget?
“That alone vitiates the claimed purpose. It is procedurally trite that after writing to the Assembly, the governor ought to wait for the letter to be acknowledged by the lawmakers, who will then invite him to appear before them and make his presentation. Governor Fubara ought to know this if he is sincere.
“But, all we know is that this Assembly will continue to uphold the rule of law and will remain committed to promoting the interest of Rivers State. We urge him to do the needful so that Rivers people can breathe. He is toying with the lives and livelihood of Rivers people.
News
Rivers Crisis: Lawmakers Locked Fubara Out Of Assembly

Siminalayi Fubara, governor of Rivers, was on Wednesday prevented from accessing the Rivers house of assembly quarters in Port Harcourt to present the 2025 budget.
When Fubara and his entourage arrived at the entrance of the building, the gates were locked.
The assembly quarters serve as the chamber for the Martin Amaewhule-led faction of the Rivers assembly, which is loyal to Nyesom Wike, minister of the federal capital territory (FCT).
Fubara and Wike have been locked in a supremacy battle over control of the political structure of the state.
The rift led to the polarisation of the Rivers assembly.
In December 2024, the governor presented a 2025 budget proposal of N1.1 trillion to the Victor Oko-Jumbo-led state house of assembly which is loyal to him.
Speaking to journalists at the entrance of the locked assembly quarters, Fubara said he had come to the quarters in compliance with the supreme court judgment on the Rivers political crisis.
“I am here this morning with a few members of the state executive council to comply with the supreme court judgment,” the governor said.
“Before my arrival, I had made several attempts by phone calls to reach the speaker (Martin Amaewhule) and other members.
“I also wrote a letter personally, which was transmitted to the honourable speaker for this particular invitation.
“It is unfortunate that by the gate, you can see that the place is completely sealed and there is no sign that anything is going to happen today. The reason why we are doing this is the interest of our people — which is the most important thing.
“There is nothing to worry about. Maybe they are working on their letter. I expect to hear from them maybe after now.”
-
Uncategorized1 week ago
BREAKING: Meranda resigns as Speaker of Lagos Assembly
-
News1 week ago
Obasa resumes as Speaker of Lagos Assembly
-
Entertainment1 week ago
My life will be in danger if I expose men who slept with my wife – Actor Ijoba Lande
-
News1 week ago
Why I stepped down as Lagos Speaker – Full text of Meranda’s resignation speech
-
News6 days ago
Senator Natasha: Don’t be in position men will talk to you anyhow – Tinubu’s wife tells women
-
News6 days ago
BREAKING: Doyin Okupe is dead
-
News1 week ago
UTME 2025: JAMB enrolls 1.6 million candidates in 26 days
-
Politics1 week ago
Rivers crisis: Leaving office worst thing that can happen to me – Fubara