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2025 Budget: Echocho worries Over Debt Servicing, Budget Deficit

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Isah Jibrin Echocho

Senator representing Kogi East, Isah Jibrin Echocho has voiced significant concerns about the growing burden of Nigeria’s debt as outlined in President Bola Ahmed Tinubu’s 2025 budget.
While Echocho acknowledged the budget’s strategic focus on critical areas like security, infrastructure, and human capital development, he cautioned that the substantial allocation for debt servicing could hinder the country’s long-term fiscal sustainability.
One of the most pressing concerns raised by Senator Echocho was the allocation of over 15% of the 2025 budget to debt servicing.
Echocho warned that this level of expenditure on debt repayment is unsustainable and could deepen Nigeria’s financial woes in the future. “This is a critical issue because it raises fundamental questions about the sustainability of our debt levels,” he said.
The senator emphasized that while the budget aims to address key areas like security and infrastructure, the heavy reliance on borrowing may exacerbate the country’s debt challenges.

Echocho further stressed the need for Nigeria to ramp up efforts to improve revenue generation, highlighting that without enhancing the performance of revenue-generating agencies, the country could continue facing fiscal shortfalls. “To manage this deficit, we must focus on enhancing the performance of our revenue-generating agencies,” he stated, underlining that improving tax collection and reducing reliance on borrowed funds are crucial steps in ensuring Nigeria’s financial stability.

“The 2025 budget, like the 2024 budget, is expected to run at a deficit. The heavy burden of debt servicing, coupled with the reliance on borrowing to fund the budget, has led to concerns about the country’s ability to manage its fiscal policy effectively.’ Senator Echocho pointed out that while the government has ambitious plans for economic growth, achieving this while managing the deficit and debt will require robust fiscal reforms and strategic planning.

“The road ahead is challenging, but with the right policies and effective execution, we can achieve a more stable and prosperous future for Nigeria,” Echocho concluded, stressing the importance of balancing growth initiatives with fiscal responsibility.
Another point of concern for Echocho was the delayed presentation of the 2025 budget. He attributed the delay to the government’s inability to fully execute projects from the 2024 budget, leading to a rollover of some projects into the new budget cycle. Despite this setback, Echocho expressed optimism that the budget would be finalized by the end of January, allowing for its timely implementation.

“We ideally aim for a January to December budget cycle, but due to unforeseen circumstances, we will make necessary adjustments,” Echocho explained, emphasizing that the government remains committed to ensuring that the budget is passed promptly despite the challenges faced.
While Senator Echocho recognized the strategic focus of the 2025 budget on tackling Nigeria’s security, infrastructure, and human capital development needs, he raised concerns about the country’s growing debt burden and the long-term sustainability of its fiscal path. He called for urgent reforms in revenue generation and emphasized the importance of responsible fiscal management to avoid a cycle of increasing debt.

Echocho’s remarks highlighted the delicate balance Nigeria must strike between investing in critical sectors for growth and ensuring that fiscal responsibility is maintained to avoid further escalation of the country’s debt challenges.
Senator Seriake Dickson Comments on 2025 Budget: Optimistic but Calls for Caution

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Senate

Oshiomhole blames Retired Generals, Influential Elites for Illegal Mining in Nigeria

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Adams Oshiomhole

Senator Adams Oshiomhole, Chairman of the Senate Committee on Interior, has decried the involvement of retired military generals and powerful elites in Nigeria’s illegal mining activities, which he described as a significant threat to the nation’s economy and security.

Speaking during the Senate Committee on Appropriation’s review of the 2025 Appropriation Bill on Friday, Oshiomhole exposed the sophisticated operations of illegal miners, alleging that these activities are heavily funded and orchestrated by influential figures, including former military officials, in collaboration with foreign entities.

“These illegal mining operations are not random or small-scale,” Oshiomhole revealed. “They are highly organized, with retired generals and their foreign collaborators at the helm. They arm the miners, use helicopters to transport extracted gold, and smuggle it out of the country, making billions of dollars while depriving Nigeria of critical revenue.”

The former Edo State Governor criticized the government’s inadequate response to illegal mining, comparing it unfavorably to the robust actions taken against oil bunkering in the Niger Delta.

“If we can deploy joint military task forces to combat oil bunkering, why are we lenient with illegal miners? It’s time to deploy the same level of force and ruthlessness,” he declared.

Oshiomhole also pointed out the devastating consequences of illegal mining, including insecurity, environmental degradation, and the weaponization of local groups to protect mining sites. He claimed that weapons used to secure mining operations often find their way into the hands of criminals engaged in banditry and kidnapping.

“Let’s be honest: some retired military officers and high-ranking officials are involved,” Oshiomhole stated. “We know where these illegal activities are happening and who is responsible. Yet, these individuals operate freely, enriching themselves while ordinary Nigerians suffer the consequences of insecurity and economic hardship.”

The senator emphasized that Nigeria’s solid minerals sector has the potential to significantly boost the country’s GDP if properly managed. “This sector could contribute up to 50% of our GDP, but currently, it accounts for a mere 0.05%. The problem is not a lack of resources but the lack of political will to enforce regulations and confront those behind these crimes,” he said.

Oshiomhole urged the Federal Government to increase funding for the Ministry of Solid Minerals Development to help harness the sector’s potential. Senator Sampson Ekong, Chairman of the Senate Committee on Solid Minerals Development, supported this call, recommending a capital budget of ₦539 billion, a significant increase from the ₦9 billion initially proposed by the executive.

Ekong noted that despite its inadequate funding last year, the ministry generated ₦37 billion in revenue, demonstrating the sector’s capacity for growth with proper investment.

Oshiomhole’s revelations and recommendations cast a spotlight on the urgent need for reforms in Nigeria’s mining sector. He called on the government to implement decisive measures, including deploying military task forces to mining areas, to dismantle illegal operations and bring their powerful sponsors to justice.

“The time for lamentation is over,” he concluded. “The government must act decisively to address illegal mining, enforce regulations, and harness our natural resources for the good of our economy.”

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Senate

Nigeria’s Biometric Census: A Bold Leap Toward Data-Driven Development

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After nearly two decades of relying on population estimates, Nigeria is poised for a paradigm shift with the Senate’s push for a biometric census in 2025. This landmark initiative aims to end years of planning with inaccurate data, setting the stage for Africa’s largest economy to embrace data-driven governance.

The urgency for this census stems from the critical role demographic data plays in shaping economic policies, resource allocation, and national development.
Senator Abdul Ningi captured the sentiment during a budget defense session with the National Population Commission (NPC), calling the reliance on foreign-sourced estimates “a national disgrace.” His sentiments were echoed by other lawmakers, including Senator Diket Plang, who stressed the need to align governance with reliable statistics.

At the heart of the proposed census is technology. NPC Chairman Hon. Nasir Isa Kwarra assured the Senate of a fraud-proof biometric system, noting its capacity to provide precise data on the population. “This technology ensures we count humans, not fishes or livestock,” he quipped, signaling a departure from past controversies around census credibility.

The biometric approach is expected to address Nigeria’s long-standing challenges with undercounting, fraud, and inflated figures tied to political and ethnic interests.
By linking individuals to unique identifiers, the process promises a transparent and verifiable headcount.

Beyond accuracy, the ₦18.2 billion proposed budget for the census reflects the commitment to innovative solutions, with substantial allocations for capital projects to support the biometric systems. Lawmakers not only approved the budget but emphasized the urgency of delivering on this promise to avoid further delays.

A reliable census is more than just numbers; it is the foundation of national growth. Accurate data will enable the government to address inequalities in resource distribution, develop targeted social programs, and foster private sector confidence.
As Nigeria grapples with complex challenges, from urbanization to security, the 2025 biometric census offers a critical opportunity to redefine governance.

As the countdown begins, the pressure is on the NPC to deliver a transparent and transformative census. With the support of the government, the initiative could set a precedent for other African nations, proving that technological innovation is key to tackling age-old challenges.
The 2025 census is not just about counting people—it is about empowering Nigeria with the data it needs to build a brighter future.

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Akpabio Decries Sycophancy in Governance, Advocates Genuine National Commitment

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Godswill Akpabio

Senate President Godswill Akpabio has delivered a sharp rebuke to sycophants within government, criticizing political appointees who prioritize personal gain over genuine service to the nation.
Speaking at an interactive session and retreat organized by the Senate Committee on Appropriation in Abuja, Akpabio urged government officials to embrace loyalty to Nigeria’s progress rather than to individual leaders.
The session, held as part of deliberations on the proposed ₦49.7 trillion 2025 budget, provided a platform for the Senate President to address what he termed “a culture of opportunism” in governance.
“They plan their moves, align their turns, and grow their pockets—but not the nation. This is a grave disservice,” Akpabio remarked. He condemned officials who only show diligence in the presence of their appointors—whether presidents or governors—but neglect their responsibilities when unsupervised.
Akpabio contrasted these behaviors with the dedication of a minority of appointees who consistently perform their duties regardless of political or hierarchical pressure. “When an appointee works with the same passion in the absence of their leader, it reflects loyalty to the country, not just self-interest,” he noted.
The Senate President’s comments underscored a systemic issue in Nigeria’s political landscape, where sycophancy and self-serving politics hinder governance and development. Akpabio called for a cultural shift, urging appointees to serve with integrity and prioritize national interests above personal ambitions.
Akpabio also took aim at uninformed public criticism, particularly on social media, of critical legislative processes such as budget reviews and tax reforms. He emphasized the need for Nigerians to engage meaningfully with legislative processes, contributing ideas rather than spreading ill-informed opinions.

“This is the forum for constructive input,” he said, referring to the budget hearing. “Social media is not a replacement for understanding the intricacies of governance. Our task is formidable but achievable, and we must approach it with informed determination.”

He described the proposed 2025 Appropriation Bill as a “Portal of Restoration,” highlighting its significance as a tool to ignite prosperity, secure peace, and build a more resilient economy.
The public hearing on the 2025 budget brought together lawmakers, ministry officials, and representatives from civil society to align fiscal priorities with national goals. Akpabio’s strong remarks emphasized the importance of accountability and collaboration in governance, advocating a collective effort to build a stronger and more united Nigeria.
“We are custodians of Nigeria’s destiny, and our responsibility is to rise above personal interests to shape a better future,” he declared.
The Senate President concluded by reaffirming the legislature’s commitment to a transparent and inclusive budget process aimed at sustainable growth, national unity, and economic resilience.

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