{"id":118035,"date":"2025-04-28T22:12:43","date_gmt":"2025-04-28T21:12:43","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=118035"},"modified":"2025-04-28T22:12:43","modified_gmt":"2025-04-28T21:12:43","slug":"nesg-flags-debt-revenue-concerns-in-2025-budget","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nesg-flags-debt-revenue-concerns-in-2025-budget\/","title":{"rendered":"NESG Flags Debt, Revenue Concerns in 2025 Budget"},"content":{"rendered":"<div>Daniel Adaji<\/div>\n<div><\/div>\n<div>The Nigerian Economic Summit Group (NESG) has raised alarm over persistent debt and revenue challenges in the Federal Government\u2019s 2025 budget, warning that without urgent reforms, the budget may struggle to deliver the major economic boost the country desperately needs.<\/div>\n<div><\/div>\n<div>In its latest analysis titled &#8220;2025 FGN Budget Analysis: Can the Budget Deliver a Major Economic Boost?&#8221;, NESG stated, \u201cThe realisation of macroeconomic assumptions, efficiency of planned expenditures, and structure of revenue mobilisation raise important questions about the budget\u2019s ability to achieve set targets.\u201d<\/div>\n<div><\/div>\n<div>According to the document obtained by Pointblank News on Monday, the NESG noted that while Nigeria\u2019s 2025 budget of N54.99tn shows a projected revenue increase to N41.91tn, the nation&#8217;s heavy debt servicing burden and weak revenue mobilisation continue to restrict fiscal flexibility.<\/div>\n<div><\/div>\n<div>About 50.8 per cent of the 2025 budget is dedicated to recurrent expenditure, primarily debt service and overheads, leaving limited room for growth-stimulating investments.<\/div>\n<div><\/div>\n<div>Since 2015, NESG observed Nigeria\u2019s budgets have suffered from structural rigidity, with nearly 60 per cent of government spending consumed by debt and administrative costs.<\/div>\n<div><\/div>\n<div>&#8220;Public investment is often treated as a residual budget item,&#8221; the report stressed, warning that this practice hinders the country&#8217;s efforts to close its vast infrastructure gap.<\/div>\n<div><\/div>\n<div>Despite a marginal improvement\u2014with 49.2 per cent allocated to capital expenditure\u2014the Group said the allocation remains insufficient for Nigeria\u2019s scale of development needs. Human capital investment also falls short, with per capita budget spending at just US$159.4 annually, far below peer countries like South Africa (US$1,957) and other African economies (around US$800).<\/div>\n<div><\/div>\n<div>The NESG flagged the country\u2019s persistent revenue struggles as a major threat to budget implementation. Even with policy measures such as fuel subsidy removal and exchange rate unification boosting revenue in 2023 and 2024, high debt service costs continue to erode gains.<\/div>\n<div><\/div>\n<div>Nigeria\u2019s debt-service-to-revenue ratio peaked at 84.7 per cent in 2020, easing slightly to 52.5 per cent in 2024 but still exerting serious pressure on government finances.<\/div>\n<div><\/div>\n<div>Between 2015 and 2024, Nigeria\u2019s public debt ballooned from N12.6tn to N144.7tn, driven by heavy reliance on domestic and commercial loans at high interest rates. The report warned that external shocks, currency depreciation, and inflation could further complicate the debt landscape.<\/div>\n<div><\/div>\n<div>The NESG\u2019s analysis called for a strategic rethinking of Nigeria\u2019s fiscal approach, urging the government to prioritise long-term investments in infrastructure and social development rather than focusing predominantly on recurrent expenses.<\/div>\n<div><\/div>\n<div>\u00a0It recommended improving budget execution, strengthening public investment management, implementing tax reforms, and enhancing transparency through timely publication of fiscal accounts.<\/div>\n<div><\/div>\n<div>\u201cUltimately, making the 2025 budget work for economic growth will require a whole-of-government commitment to prudent fiscal governance, implementation discipline, and political will to prioritise long-term national interests over short-term spending,\u201d the NESG advised.<\/div>\n<div><\/div>\n<div>The NESG stressed that the 2025 budget must not just be a ritual of figures but a genuine driver of inclusive growth, job creation, and poverty reduction.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Daniel Adaji The Nigerian Economic Summit Group (NESG) has raised alarm over persistent debt and revenue challenges in the Federal Government\u2019s 2025 budget, warning that without urgent reforms, the budget&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":118036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-118035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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