The House of Representatives on Thursday passed for second reading the 2025 appropriation bill of N49.7 trillion presented to the National Assembly by President Bola Ahmed Tinubu on Wednesday.
Members took turn to commend the President for the budget, describing it as ambitious, while some warned that the parameters for the budget were not realistic, calling for proper implementation and monitoring.
Leading the debate on the bill, House Leader, Julius Ihonvbere said President Tinubu admitted during the budget presentation that Nigerians were going through rough times, but added that for once, Nigerians are seeing a government that is ready to refocus the Nigerian economy.
He said the budget has made adequate provision for the education sector as well as security, health and infrastructure, adding that with the determination of the government, the country will soon begin to see foreign investments in the country.
Ihonvbere applauded the determination of the government to reduce inflation to 15 percent in 2015, saying the target was realizable if all Nigerians contribute their quota, pointing out the President has demonstrated serious courage and leadership in moving the nation forward.
Former Deputy Speaker of the House, Ahmed Idris Wase wants proper implementation and monitoring of the security budget, adding that doing so can put an end to the security challenges in the country.
He said: “We should follow up the utilization of the security budget to ensure value for money”, and called for the speedy passage of the budget to ensure that what is allocated to the various constituencies are implemented.
He decried the challenge in the health sector especially in the area of funding and infrastructure.
But Jeremiah Umoru questioned the criteria used in allocating money to the South West Development Commission whose board has not been constituted, while the North Central and South South Development Commission whose establishment bills are currently with the President are left out.
Wale Hammed commended the President for his infrastructural drive as shown in the Lagos to Calabar and Sokoto to L:agos road projects, saying “in 1985 when I went to Sokoto to study, we were told that there will be a road from Sokoto to Lagos. I spent seven years there and the road was not constructed. It has remained like that over the years. Now, the road is being constructed.”
He also applauded the government for paying attention to capital budget, which he said is almost at par with the recurrent expenditure in the budget.
Also contributing, Babajimi Benson said with adequate security in the country, Nigeria will be able to unlock its potentials, adding that the N4.9 trillion budgeted for the security sector does not include the potentials of the Defence Industries Corporation of Nigeria.
He said: “With the reforms in DICON, a lot of countries are interested in investing there and very soon, Nigeria will become a producer of military hardwares.”
But minority leader of the House, Kingsley Chinda said the budget was overtly over ambitious inspite of the President’s optimism about the budget, adding that if well implemented, the budget portend something good for the Nigerians.
Chinda said however that Nigerians must not lose site of the fact that the budget is merely a projection, adding that while considering whether the projections are realizable, the indices on ground must be considered.
He said: “Our indices are not completely correct. So, it is not yet uhuru. The plan to reduce inflation from about 35 percent to 15 percent is over ambitious and I don’t see how we can achieve that. If we are able to achieve security in 2025, will that improve food security in 2025. I don’t think so. We can be looking at 2026 for food security.
“The budget for security will not take us to the promise land. In terms of revenue generation, the revenue sources remained the same. The concern is that we let us not over tax the people again. We should be talking about expanding the revenue sources, tighten the tax net.
“The issue of revenue target is key, while the amount for deficit appear to be too high. With this figure, I don’t see how Nigerians will not go to bed hungry in 2025. How do we achieve an exchange rate of N1,500 when we have market forces dictating the exchange. What are the things on ground that will crash the exchange rate?
Chinda said although the budget appear beautify, there is much more to be done to ensure that the target is achieved, while warning that environmental sustainability must be properly taken care in the budget.
Some members also called for increased allocation to the zonal development commissions to actualize the intention for which they were established.
