Special to USAfrica magazine (Houston) and USAfricaonline.com, the first Africa-owned, US-based newspaper published on the Internet
On December 18, 2024, President Bola Ahmed Tinubu presented his administration’s much-anticipated 2025 Budget Bill, titled the “Budget of Reformation,”* to a joint session of the National Assembly. The session, co-chaired by Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, was intended to highlight the government’s roadmap for tackling Nigeria’s economic and social challenges in the coming year. However, what transpired in the chambers has raised critical questions about the seriousness of governance and the commitment of Nigeria’s leaders to address the pressing issues confronting the nation.
It was a session marred by theatrics.
Instead of fostering an atmosphere of solemnity befitting such an important occasion, the session devolved into a spectacle. President Tinubu’s delivery was marked by notable dislocations, yet these were overshadowed by the theatrics that followed.
Members of the Assembly interrupted the proceedings with a standing ovation, chanting the APC campaign anthem, “On Your Mandate We Shall Stand.”
Senate President Akpabio compounded the circus-like atmosphere by showering Tinubu with effusive praise that bordered on sycophancy. Such lends attention to those who describe this country as some kind of an unserious zoo.
This display was not just inappropriate; it was an insult to the Nigerian people.
A joint session of the National Assembly (of any country) is expected to symbolize maturity, responsibility, and democracy in action – a place for critical discourse, robust debate, and genuine concern for the nation’s welfare. Instead, it resembled a political rally, tarnishing the sanctity of an institution that should serve as a beacon of accountability and governance.
*A Legacy of Missteps and Misdirection*
President Tinubu’s tenure has been defined by controversial policies, including the hasty removal of fuel subsidies, a move that, while economically justified, was implemented without adequate planning including of safety nets for the poor. The result has been skyrocketing transportation costs, exacerbated inflation, and widespread suffering among the populace.
Despite these worsening challenges, the administration has sought to project a narrative of progress. However, public perception paints a different picture: one of disillusionment and frustration. *The standing ovations and chants in the National Assembly stand in stark contrast to the reality on the streets, where millions of Nigerians are grappling with poverty and despair.*
*The Budget: A Cause for Hope or a Source of Concern?*
Notably, President Tinubu’s 2025 National Budget Bill, which he christened “Budget of Reformation,” is the most expensive in Nigeria’s history. The proposed budget stands at N49.7 trillion, making it the highest Nigeria has ever had in naira terms.
As presented, the Budget Bill proposes significant allocations and promises reforms aimed at addressing Nigeria’s economic and social woes. However, the disconnection between the government’s rhetoric and the lived realities of Nigerians is glaring. Under Tinubu’s administration, the economy has been battered by ill-timed and badly executed policies, spiraling inflation, and a plummeting standard of living.
*Key Questions About Economic Realities*
*Nigeria’s Status as Africa’s Largest Economy*
Nigeria has long been regarded as Africa’s largest economy, but does this still hold true? South Africa, with a smaller population but better-managed infrastructure and economic policies, now threatens to reclaim the title. The lack of tangible growth and competitiveness in key sectors like manufacturing and exports has eroded Nigeria’s economic edge.
*Debt Portfolio and Servicing Burden*
Nigeria’s debt profile has ballooned to over ₦87 trillion, with a staggering ₦12.3 trillion earmarked for debt servicing in the 2024 fiscal year. This raises serious concerns about the sustainability of the country’s financial trajectory. How does the government plan to balance this burden with the need for capital projects and social investments?
*Unemployment and Population Growth*
Nigeria’s unemployment rate currently stands at 33.3%, while the population growth rate hovers at 3.3% annually, placing immense pressure on already overstretched resources. The country’s estimated population of over 224 million, with a youth-dominated demographic, demands urgent job creation strategies. What has happened to Tinubu’s ambitious campaign promises, such as recruiting 50 million youths into agriculture, that remain unfulfilled?
*Food Security: A Glaring Omission*
One of the most glaring oversights in the 2025 Budget Bill is its lack of a clear, actionable strategy for addressing food security – a cornerstone of any nation’s stability and development. For a country with a rapidly growing population of over 223 million people and an unemployment rate hovering around 37.7%, neglecting agriculture and food production is a perilous gamble.
President Bola Ahmed Tinubu, during his campaign, made ambitious promises about revamping agriculture, including recruiting 50 million youths into the sector to enhance productivity and ensure self-sufficiency. Yet, in his administration’s policy actions and budgetary allocations so far, there seems to be a disconnect between these promises and their execution.
Food security isn’t just a humanitarian imperative – it is also an economic one. Agriculture is one of Nigeria’s largest employment sectors, capable of absorbing a significant portion of the unemployed workforce. Historically, Nigeria thrived as an agricultural powerhouse, exporting commodities like cocoa, palm oil, cassava derivatives, and groundnuts. However, decades of neglect, poor policies, and over-reliance on oil revenue have eroded this legacy.
Amid surging food prices, which climbed to unprecedented levels since the fuel subsidy removal, millions of Nigerians are now struggling to afford basic meals. This is further compounded by the ongoing security challenges in agricultural regions, where banditry, kidnappings, and herder-farmer conflicts have displaced many farmers, reduced arable land, and disrupted food production.
Investing in agriculture offers a dual advantage – it provides immediate employment opportunities while simultaneously addressing food inflation and dependency on imports. Tinubu’s administration could take cues from successful agricultural interventions in countries like Ethiopia and India, where government-backed programs have revolutionized food production and export capacity. For instance, the Ethiopian Agricultural Transformation Agency (ATA) has leveraged innovation and public-private partnerships to modernize farming and improve yields. Similarly, India’s Green Revolution introduced high-yield crop varieties and modern farming techniques, lifting millions out of poverty.
In contrast, Nigeria’s agricultural policies have often been fragmented, underfunded, and marred by corruption and inconsistency. Despite initiating programs like the Anchor Borrowers’ Program, the results have been underwhelming due to poor execution and lack of transparency. A reformed approach that emphasizes mechanization, irrigation, and accessible financing for real farmers could transform the sector and ensure food availability for all.
The Tinubu administration must urgently recalibrate its priorities to place food security at the forefront. This would involve:
1. *Increasing Budgetary Allocation*: Allocate a significant percentage of the national budget to agriculture, ensuring funds are channeled toward mechanization, irrigation, and farm input subsidies.
2. *Youth Engagement*: Deliver on the promise to recruit millions of unemployed youths and willing adults and seniors into the sector. This can be achieved by creating agricultural hubs with access to training, land, and capital.
3. *Tackling Insecurity*: Partner with security agencies to protect farming communities and agricultural zones from banditry and conflict.
4. *Promoting Local Consumption*: Develop incentives for local food production and processing, reducing dependency on expensive imports.
By prioritizing food security, the Tinubu administration would not only address a fundamental human need but also stabilize the economy, reduce unemployment, and lay the groundwork for long-term development.
*The Role of the National Assembly: Sycophancy or Oversight?*
The role of the National Assembly in shaping Nigeria’s future cannot be overstated. It is meant to serve as a check on the executive, ensuring that policies and budgets are in the best interest of the people. Unfortunately, the theatrics displayed during the budget presentation suggest a legislature more interested in political survival than in fulfilling its constitutional mandate.
Senate President Akpabio’s over-the-top praise of Tinubu highlights a worrying trend of sycophantic leadership that prioritizes loyalty to the presidency over accountability to the electorate. *This lack of independence not only undermines the credibility of the National Assembly but also jeopardizes its ability to effectively scrutinize the budget and advocate for the needs of the Nigerian people.*
*The Path Forward: Recommendations*
To restore hope and confidence, the government must take decisive action:
1. *Revamp Food Security Policies*:
The 2025 budget must prioritize agriculture as a cornerstone of economic recovery. Investments in mechanization, irrigation, rural infrastructure, and direct cash support to actual farmers at the MSME levels especially at the rural areas can create millions of jobs and reduce food imports.
2. *Address Debt Sustainability*:
Nigeria must adopt a more transparent and prudent debt management strategy. The focus should be on securing low-interest loans and reducing reliance on domestic borrowing, which crowds out private investment.
3. *Tackle Unemployment Head-On*:
The government should deliver on its promises to create jobs, especially for the youth. Public-private partnerships and vocational training programs could provide immediate employment opportunities.
4. *Restore Legislative Dignity*:
The National Assembly must rise above partisan politics and sycophancy to prioritize the needs of the Nigerian people. *Rigorous scrutiny of the budget and meaningful debate are essential.*
5. *Communicate Transparently*:
The Tinubu administration must bridge the communication gap with the public by providing clear and honest updates on policy decisions and their expected outcomes.
*Conclusion: Beyond Rhetoric to Results*
The presentation of the 2025 “Budget of Reformation” could have been a pivotal moment for the Tinubu administration to inspire confidence and chart a new course for Nigeria. Instead, it was overshadowed by political theatrics that underscored the disconnect between Nigeria’s leaders and its people.
To move forward, Nigeria needs more than lofty promises and partisan displays. It requires leadership that is focused, transparent, and committed to addressing the nation’s challenges with urgency and pragmatism. The time for political grandstanding is over. What Nigerians demand – what they deserve – is a government that prioritizes their welfare above all else.
Nigeria’s path forward hinges on decisive leadership, genuine policy reforms, and a government that puts the people first. *The 2025 Budget, while branded as the “Budget of Reformation,” risks being another missed opportunity if it fails to address the core issues plaguing the nation.* President Bola Ahmed Tinubu’s administration must recognize the urgency of the moment. The Nigerian people can no longer afford empty promises or grandstanding; they need real, impactful change.
This government has an opportunity to redefine its legacy. By tackling unemployment, food insecurity, and economic instability head-on, it can reverse the prevailing tide of disillusionment. However, this will require abandoning the politics of optics and instead focusing on pragmatic and inclusive governance.
As the National Assembly deliberates on the 2025 budget, legislators must resist the temptation of sycophancy and rubber-stamping and instead fulfill their constitutional role as the representatives of the people. *Nigerians are watching, and history will judge them not by their loyalty to the president but by their commitment to the welfare of the nation.*
It is not too late to recalibrate. President Tinubu and his team must rise to the occasion, moving beyond political theatrics to deliver tangible results that restore hope, rebuild trust, and renew Nigeria’s promise as the “Giant of Africa.” The world is watching, and the clock is ticking.
If the “Budget of Reformation” is to live up to its name, it must be the foundation for meaningful progress, not just another rhetorical flourish and waste.
The time for purposeful action is now; Nigeria cannot afford to wait any longer.
