The Speaker of the House of Representatives, Hon. Abbas Tajudeen, has called for reflection on Nigeria’s fiscal realities.
Speaking after President Tinubu presented the 2025 Appropriation Bill, he emphasized the need for critical consideration. Abbas highlighted the importance of comparing Nigeria’s budget-population ratio with other African nations for better fiscal understanding.
The statement was issued by Musa Abdullahi Krishi, Special Adviser on Media and Publicity to the Speaker.
The Speaker acknowledged that the Tinubu administration has made bold decisions, including removing fuel subsidies and unifying exchange rates. These actions, he said, reflect a commitment to reforming the Nigerian economy for long-term prosperity. He pointed out that such reforms have sparked resistance but are necessary for national progress and economic stability.
Abbas noted the proposed 2025 budget of N49.7 trillion as ambitious and commendable, calling it a positive step forward. However, he stressed that Nigeria’s fiscal reality requires a deeper evaluation, especially when compared to African counterparts like South Africa and Egypt. He expressed concerns about Nigeria’s modest budget relative to its population size of over 220 million people.
Despite these challenges, the Speaker expressed confidence that the ongoing reforms will spur growth and development across various sectors. He emphasized the importance of investing in infrastructure, education, healthcare, and security as top priorities for the government in 2025. Abbas also called for improved communication between the government and citizens to strengthen national unity and trust.
The Speaker assured President Tinubu that the National Assembly is committed to supporting the implementation of the 2025 budget. He emphasized that collaboration between all arms of government is crucial for the success of this national project. Finally, he urged Nigerians to remain resilient, acknowledging the sacrifices made in the past year for a stronger, self-reliant nation.
