The senator representing Anambra Central Senatorial District, Victor Umeh, has expressed mixed feelings about President Bola Ahmed Tinubu’s 2025 budget.
While acknowledging its focus on critical sectors such as security, education, healthcare, and infrastructure, Umeh voiced strong reservations about the growing reliance on borrowed funds to finance government spending.
“I am personally excited by the budget’s ambition and the focus on key areas that will drive national growth. However, I must stress that the larger the size of our borrowing, the greater the burden of servicing the debt,” Umeh stated. He warned that excessive borrowing could lead to unsustainable debt servicing costs, undermining the country’s fiscal stability and limiting its ability to fund essential programs.
The senator’s remarks align with widespread concerns about Nigeria’s increasing debt burden, with debt servicing consuming a significant portion of the national budget. Umeh cautioned against allowing the country to fall into a cycle of borrowing and interest payments, which could choke critical investments in infrastructure and services.
“We must ensure that the revenue support is in place to implement this budget so we do not rely too heavily on borrowed funds,” Umeh added, urging the government to prioritize revenue generation to reduce dependence on loans.
In addition to fiscal concerns, Senator Umeh stressed the importance of equitable development across Nigeria’s six geopolitical zones.
He highlighted the need for fairness in the distribution of infrastructure projects and government programs to ensure that all regions benefit equally from federal investments.
“The infrastructure projects must be distributed fairly across all six geopolitical zones. We must develop Nigeria at an equal pace, and all parts of the country must be carried along in the spending and programs of the government,” Umeh stated. He pledged to advocate for any regions that might be overlooked when the full breakdown of the budget is presented.
Despite these concerns, Senator Umeh expressed optimism about the budget’s potential to drive growth and development. He emphasized the need for careful scrutiny and robust fiscal management to ensure that the ambitious spending plan does not lead to long-term economic challenges.
“The 2025 budget offers a hopeful vision for Nigeria’s future, but it must be approached with caution, particularly regarding the country’s reliance on debt,” Umeh concluded.
As debates on the budget unfold, Senator Umeh’s comments reflected a balance of optimism about the proposed investments and a call for fiscal responsibility and equitable development.
His focus on revenue generation and regional inclusivity highlighted key areas for lawmakers to address as they evaluate the budget.