Ola Akinwunmi
The Federal Government’s (FG) decision to increase the 2025 budget to a record N54 trillion has sparked mixed reactions among economic experts and stakeholders. The new budget includes an additional N4.5 trillion earmarked for agriculture and infrastructure, raising debates over its potential impact on Nigeria’s economy.
The massive allocation, according to government officials, is aimed at boosting food security and enhancing critical infrastructure to drive economic growth. Minister of Finance, Budget, and National Planning, Dr. Adebayo Yusuf, stated that the increase is necessary to address pressing national needs and stimulate job creation. “Investing in agriculture and infrastructure is essential for long-term economic stability and development,” he noted.
However, economic analysts are divided over the move. While some commend the FG’s commitment to revitalizing key sectors, others express concerns over fiscal sustainability and potential inflationary pressures. Dr. Chika Ude, an economist, described the budget raise as “a step in the right direction,” emphasizing that improved infrastructure and agricultural output could reduce dependence on imports and stabilize food prices.
Conversely, financial expert Segun Adeyemi warned that increased spending without corresponding revenue generation could widen the fiscal deficit. “Nigeria is already grappling with high debt levels. Unless the government has a clear revenue plan, this increase could strain public finances,” he cautioned.
In the agricultural sector, stakeholders have welcomed the increased funding, saying it could enhance mechanized farming and boost food production. “If properly implemented, this budgetary boost could significantly improve Nigeria’s agricultural output and create thousands of jobs,” said Aisha Bello, a member of the National Farmers’ Association.
On infrastructure, the government has outlined plans to prioritize road networks, power supply, and rural development projects. Industry players believe that proper execution could enhance economic activities and attract foreign investment.
As deliberations continue, Nigerians remain eager to see how the government plans to balance spending with revenue generation while ensuring accountability and transparency in fund allocation. Whether the N54 trillion budget will usher in a new era of economic progress or burden the nation with more financial strain remains a hot topic of debate.
