BREAKING: CHRICED: 2025 Budget shows lack of solid plan to address economic challenges

The Centre for Human Rights and Citizens’ Awareness, CHRICED, has criticized the 2025 budget presented by the Nigerian government, which is worth N49.7 trillion, saying that the budget shows a lack of concern for the needs of the poor and the pursuit of economic recovery.

Comrade Ibrahim M. Zikirullahi, the Director of CHRICED Foundation, made this known in a statement delivered on Tuesday, December 31, 2024, in Abuja.

The Director stated that the budget presented by the Tinubu administration shows a serious problem in formulating realistic economic policies that will bring about positive change in the lives of the people.

Zikirullahi said, “While we are pleased with the progress made in the security sector and other sectors, the 2025 budget shows a lack of a solid plan to address the problems of poverty, peace, and the improvement of the lives of the poor in Nigeria.”

In the budget, N16.33 trillion was allocated to repay the government’s accumulated debt, which is more than 45% of the total expected revenue.

“This indicates that the government is focusing more on debt repayment than supporting other economic and social sectors,” Zikirullahi added.

The CHRICED Institute said that this budget should focus on other key areas such as agriculture, food security, environmental security, water and sanitation, and power and infrastructure.

“At the same time that the government is spending money on debt repayment, it should consider reducing spending on the welfare of the leaders and focusing on improving the lives of the poor,” he said.

Zikirullahi added, “We call on the Tinubu government to review the budget and think deeply on how to develop agriculture and food production to reduce poverty in the country.”

The institute noted that the 2025 budget includes a projection of external debt financing and the sale of government assets, which could increase the debt burden on the economy. “This is part of the government’s strategy to focus on debt repayment, which will further strain the economic system,” Zikirullahi explained.

Finally, CHRICED called on the Nigerian government to produce a budget that focuses more on the welfare of the poor and improving the lives of Nigerians.

“The budget must address the needs of the poor and ensure that every Nigerian has access to a decent life,” Zikirullahi said.