Tinubu govt runs Nigeria's most dangerous budget cycle, BudgIT warns
Seun Onigbinde, co‑founder of BudgIT, told Channels Television on Thursday that President Bola Ahmed Tinubu’s administration is running Nigeria’s most dangerous budget cycle. He said the government is simultaneously executing three budget cycles for 2024, 2025 and 2026, with a combined national budget of N152.09 trillion. According to Onigbinde, the administration has not prioritised capital projects, removed the fuel subsidy and devalued the naira without fully grasping the wider implications for debt servicing, calling the situation the most dangerous fiscal period his organisation has monitored.
This fiscal stance raises serious concerns about Nigeria’s debt sustainability. With subsidies removed and the naira weakened, debt service costs are likely to rise, squeezing fiscal space for essential infrastructure such as roads, power and health facilities. Citizens may feel the impact through higher living costs, reduced public‑service delivery, or future tax increases. The warning also signals macro‑economic risks to investors, which could affect borrowing costs and investment decisions.
What should Nigerians know or do? Stay informed by following the National Assembly’s budget hearings and demanding detailed explanations on how borrowed funds will be used. Assess how rising inflation and possible fiscal tightening could affect household budgets, savings and investment plans. Engage in civic avenues—such as town‑hall meetings, social‑media advocacy or voting—to press for greater transparency and a shift toward productive capital spending that drives long‑term growth.