The first priority of every government when a national budget is being prepared would be to look out for the welfare of the people of that country in relation to economic growth. Having done that, then every other division would follow. But looking at Nigeria’s 2025 national budget, we discovered that some areas that got billions of dollars should not have received such money, considering the nonexistence of economic growth in the country. We had expected the government of Nigeria to cut down on some areas that are not so important and use the money to fill up areas that would grow the economy of Nigeria. This is what progressive nations of the world are doing, and this method has brought real economic growth into their various countries. Another troubling aspect is how Nigeria’s 2025 budget is going to be financed. We are appealing to the government of Nigeria to look inward for a solution; going to borrow money from the World Bank would continue to bring setbacks to the economy of Nigeria. A country that borrows money at every given opportunity can never grow her economy because of two main reasons: paying back the money borrowed, which comes with huge and unfavourable interest rates, and corruption and poor investments. Again, we believe that if the government of Nigeria can look inward, they would be able to generate the money needed to finance the 2025 national budget without having to go and take a loan from an external source.
Source: Viewers Corner News