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Atiku accuses Tinubu of making Buhari’s borrowing mistakes
Atiku accuses Tinubu of making Buhari’s borrowing mistakes
Atiku Abubakar, the Peoples Democratic Party’s 2023 presidential candidate, has criticised President Bola Tinubu’s 2025 budget proposal, accusing him of repeating his predecessor Muhammadu Buhari’s borrowing mistakes.
Atiku, who scrutinised the budget, claimed that it lacked the fundamental reforms and budgetary discipline required to confront Nigeria’s complex economic problems.
In a statement released on Sunday, Atiku questioned the budget’s ability to promote long-term economic growth or address the country’s long-standing issues.
On Wednesday, President Bola Tinubu delivered an N47.9 trillion budget proposal to a joint session of the National Assembly.
The proposed budget sets aside N4.91 trillion for military and security, N4.06 trillion for infrastructure, N2.48 trillion for health, and N3.52 trillion for education.
AtikuE criticised the budget proposal, saying it reflected a continuation of “business-as-usual” fiscal practices, which he claimed had persisted under the All Progressives Congress-led administration since 2016.
He contended that these tactics had resulted in chronic budget deficits and an increased reliance on foreign borrowing.
“To bridge this fiscal gap, the administration plans to secure over N13tn in new borrowings, including N9tn in direct loans and N4tn in project-specific financing.
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“This borrowing strategy mirrors the approach of previous administrations, leading to escalating public debt and compounding risks related to interest payments and foreign exchange exposure,” Atiku added.
The former Vice President emphasised the budget’s reliance on deficit financing, noting that it estimates N48 trillion in expenditures against a revenue prediction of N35 trillion, resulting in a deficit of more than N13 trillion—equivalent to 4% of the country’s GDP.
Atiku attacked the 2024 budget’s underperformance, which he attributed to weak execution capabilities.
“By the third quarter of 2024, less than 35% of the capital expenditure allocated to ministries, departments, and agencies had been disbursed, despite claims of 85% budget implementation. This raises concerns about the effective execution of the 2025 budget.
“The 2025 budget lacks the structural reforms and fiscal discipline required to address Nigeria’s multifaceted economic challenges.
“To enhance its credibility, the administration must prioritise reducing inefficiencies in government operations, tackling contract inflation, and focusing on long-term fiscal sustainability rather than perpetuating unsustainable borrowing and recurrent spending patterns.”
He also voiced concern about the allocation of N15.8 trillion (33% of total expenditure) to debt servicing, noting that it is roughly equivalent to the anticipated capital investment of N16 trillion (34%).
“This imbalance undermines fiscal stability, crowds out essential investments, and perpetuates a cycle of increasing borrowing.
“The government’s recurrent expenditure, which accounts for over N14tn (30% of the budget), remains disproportionately high, according to Atiku.
“This reflects the continued operation of an oversized bureaucracy and inefficient public enterprises, leaving limited resources for development projects,” Atiku said.
He further mentioned the inadequacy of capital spending, stating, “After accounting for debt servicing and recurrent expenditure, the remaining funds for capital spending—representing 25% to 34% of the total budget—are insufficient to address Nigeria’s infrastructure deficit or stimulate growth.
“This equates to an average capital allocation of N80,000 (approximately $45) per capita, which is inadequate for a country grappling with slow economic growth and infrastructural underdevelopment.”
He condemned the administration’s decision to increase the VAT rate from 7.5% to 10%, calling it a regressive measure that would exacerbate the cost-of-living crisis and impede economic growth.
“By imposing additional tax burdens on an already struggling populace, without addressing inefficiencies in governance, the government risks stifling domestic consumption and deepening economic hardship,” Atiku said.
Atiku advocated for a transition towards disciplined and growth-orientated fiscal policies, highlighting the need to reduce waste, improve the efficiency of public spending, and prioritise investments in important industries.
He finished by pushing the administration to reconsider its borrowing policy and implement changes that would ensure long-term fiscal sustainability and economic growth.
Atiku accuses Tinubu of making Buhari’s borrowing mistakes
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We won’t stop Sharia panels from operating in Oyo – Gov Makinde
We won’t stop Sharia panels from operating in Oyo – Gov Makinde
Oyo State Governor, Seyi Makinde, has assured Muslims in the state that he has no objections to the operation of Sharia panels, emphasizing that individuals are free to seek dispute resolution through them if they so wish.
Speaking at the 2025 Iftar event organized by the state government at the Government House, Agodi, Ibadan, Makinde clarified that he has no plans to challenge the legality of Sharia courts in the state. His comments were conveyed in a statement on Thursday by his media aide, Dr. Sulaimon Olanrewaju.
Earlier in the week, Dr. Rafiu Bello, Chairman of the Sharia Committee of Oyo Land, had confirmed that a Sharia panel had already been established in Oyo town and had begun sittings. This led to renewed discussions regarding the panel’s constitutionality.
In response, Makinde reiterated his stance that the Constitution remains the supreme authority in all legal matters while acknowledging the role of Sharia panels in alternative dispute resolution.
“I read in the newspaper that I would go to court for interpretation on the Sharia panel, which is ongoing in Oyo. That is not my position,” the governor stated. “My position is that we will support anything that is in our Constitution.”
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Makinde explained that alternative dispute resolution mechanisms, including the Sharia panel, could ease the burden on the courts, provided they do not conflict with constitutional provisions.
He further emphasized his administration’s commitment to maintaining religious harmony and unity in the state, cautioning against attempts to use religion for political gains.
“As we move towards the next election, there will be elements that only think about the next election. But what we have done in this administration is to think about the next generation,” he said.
The governor also used the occasion to appreciate the Muslim community for their support and prayers, acknowledging the contributions of religious leaders, lawmakers, and security agencies in fostering peace and development in Oyo State.
The event was attended by several dignitaries, including former Governor Rashidi Ladoja, Deputy Governor Bayo Lawal, Speaker of the Oyo State House of Assembly, Adebo Ogundoyin (represented by Deputy Speaker Mohammed Fadeyi), and other key figures from the judiciary and legislative arms of government.
We won’t stop Sharia panels from operating in Oyo – Gov Makinde
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EFCC re-arraigns son of ex-PDP chairman for alleged N2.2bn oil subsidy fraud
EFCC re-arraigns son of ex-PDP chairman for alleged N2.2bn oil subsidy fraud
Mamman Nasir Ali, the son of former chairman of Peoples Democratic Party, PDP and one Christian Taylor were on Thursday rearraigned for an alleged N2.2 billion oil subsidy fraud before Justice Mojisola Dadap of the Special Offences Court sitting in Ikeja, Lagos by the Economic and Financial Crimes Commission, EFCC.
They were re-arraigned alongside Nasaman Oil Services Limited on an amended 57-count charge, following new findings in the case.
The defendants had initially been arraigned on a 49-count charge bordering on conspiracy to obtain money by false pretence, obtaining money by false pretence, forgery and the use of false documents.
At the scheduled trial for the adoption of final written addresses on Wednesday, the prosecution counsel, Seiduh Atteh, informed the court of the amended charges and requested that the defendants take a fresh plea.
There was no objection from the defence counsel, Obafemi Kolade, SAN.
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Consequently, the court granted the request.
The defendants, thereafter, pleaded “not guilty” to the amended charges preferred against them.
In the amended charge, the defendants, as well as Oluwaseun Ogunbambo and Olabisi Abdul Afeez, who are both at large, allegedly “fraudulently obtained money from the Federal Government on or about September 9, 2011.”
The defendants also allegedly forged a document titled: “ GASOLINE ANALYSIS” on board MT Overseas Limar, purportedly issued by Saybolt Concremat on the said date.
Following the re-arraignment, Kolade requested time for the defence to amend its written address in response to the new charges.
Justice Dada directed the prosecution to file a response before the next hearing.
The case was adjourned till April 15, 2025 for the adoption of final written addresses.
EFCC re-arraigns son of ex-PDP chairman for alleged N2.2bn oil subsidy fraud
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Group says Natasha’s recall will deepen democracy
Group says Natasha’s recall will deepen democracy
The Campaign for Democracy, a civil society organisation, on Thursday said the recall of Sen. Natasha Akpoti-Uduaghan (PDP-Kogi Central) by her constituents would deepen democracy in Nigeria.
The pro-democracy group also said that such action by her concerned constituents would help put lawmakers on their toes to serve them well.
The group made this known in a statement issued in Lokoja by its President, Mr Ifeanyi Odili.
It expressed worry over what it described as “avoidable” crisis between embattled suspended Sen. Akpoti-Uduaghan and Senate President Godswill Akpabio a few weeks ago.
According to the group, the incident has put Nigeria’s image on trial before the global community.
The CSO said it was worried that, rather than addressing the core issues surrounding her (Akpoti-Uduaghan) suspension within the framework of Nigeria’s democratic institutions, she chose to “engage in a campaign of calumny against the Senate as an institution.”
“It’s unfortunate that Akpoti-Uduaghan’s activities within and outside the country since the beginning of the controversy have cast an unfortunate dent on the image of Nigeria, for which she must apologise.
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“This is nothing but gross misconduct against Nigeria,” it said.
It advised respected Nigerian leaders to always identify when not to play opposition politics with delicate national issues, in the best interest of the nation.
“More worrisome is the fact that she has distorted the facts preceding her suspension and curiously held on to her sexual harassment allegations against the Senate President as the reason for the initial actions taken against her.
“Taking such misrepresentation to the world stage and representing Nigeria illegally at the Inter Parliamentary Union to air such views can be described as nothing but gross misconduct against the country.
Group says Natasha’s recall will deepen democracy
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