By Newsshelve Correspondent.
BudgIT, a leading civic-tech organization, has raised concerns over irregularities in the 2025 Federal Government Proposed Budget.
The organization is calling on the National Assembly to conduct a prudent, patriotic, and inclusive review of the budget.
According to BudgIT, the Federal Government has consistently fallen short of its macroeconomic assumptions, posing serious fiscal risks and leading to severe budget financing challenges, additional unforeseen government obligations, and a significant increase in public debt.
One of the key concerns raised by BudgIT is the government’s inflation projection of 15% in the 2025 fiscal year, which appears grossly unrealistic considering the current inflation rate of 34.6% as of November 2024.
The organization notes that the government has not created a clear roadmap to resolving the constant increase in food and energy prices, which are driving inflation.
BudgIT also advises the National Assembly to resist the urge to increase the oil price benchmark to create fiscal space for their budgetary insertions, a practice observed in previous years.
The organization notes that the oil price projection of $75 per barrel appears feasible given the global outlook of $70 to $73 per barrel.
Another concern raised by BudgIT is the lack of transparency and accountability in the budget. The organization notes that the 2025 proposed budget breakdown submitted to the National Assembly for review and approval omits the breakdown of some MDAs, commissions, and councils, such as the National Judicial Council and TETFUND.
Furthermore, BudgIT observes that the budgets of over 60 government-owned enterprises (GOEs), including the Nigeria Ports Authority and Nigerian Maritime Administration and Safety Agency (NIMASA), were conspicuously absent from the 2025 Proposed Budget.
The organization also raises concerns about the allocation of ₦2.49 trillion to five regional development commissions under the umbrella of personnel costs.
This approach, according to BudgIT, obscures the true nature of these commissions’ operational expenses and raises concerns about transparency and accountability.
BudgIT also notes that the 2025 budget notably omits funding for the Lagos-Calabar Coastal Road, a capital-intensive infrastructure project.
This omission implies that if funding for this project materializes, it will likely necessitate reallocating funds from other critical projects, potentially hindering their implementation and impacting the budget’s credibility.
In addition, BudgIT expresses concern over President Bola Ahmed Tinubu’s recent pronouncement regarding the retirement package of military generals, which includes the provision of a bulletproof SUV, fully paid foreign medical treatment, and other benefits.
The organization notes that such provisions not only inflate the budget and widen the fiscal deficit but may also demoralize lower-ranking military personnel.
BudgIT is calling on the National Assembly to prioritize national interest over personal or parochial considerations and ensure that the approved budget stimulates economic activities and macroeconomic stability, allocates resources to foster economic growth and development, equitably distributes resources to reduce poverty and inequality, and caters to the most vulnerable Nigerians.
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