Professor Paul Sunday Nnamchi, a federal lawmaker, has praised the 2025 national budget proposal, calling it ambitious and growth-sustaining.
He believed that the budget was aimed at reassessing the government’s transformation agenda, its impact on the production and the overall economy in addition to making sure that the government’s monetary and fiscal policies were in tandem.
The proposed budget according to him, “is expected to bring down interest rates, support investments, promote production, and sustain growth and reduce inflation. He stressed.
Professor Nnamchi also acknowledged the progress made in security, particularly in the Niger Delta region, which has contributed to the increase in oil production from 1.2 barrels a day to 1.8 barrels a day.
Key highlights of the budget proposal include: A significant allocation to security, which Professor Nnamchi observed that it was crucial for addressing food security concerns and reducing the cost of staple foods.
“Increase in oil production and agriculture due to improved security situation in the troubled areas will raise our GDP significantly, which could bring down inflation from 39% to 15 % going by medium term expenditure frameworks”
He noted stressing that the budget outlined proposed measures that would also support investments, promote production, and sustain growth while reducing inflation.
Such measures, he stated includes investments in infrastructure development, which were expected to stimulate economic growth and attract foreign direct investments.
“While ambitious, this budget is grounded in sound economic principles, and its successful implementation will depend on our collective resolve as representatives of the people to ensure that every naira allocated serves its purpose and delivers tangible benefits to Nigerians.”
Overall, Professor Nnamchi emphasized the need to prioritize national interest and work towards moving the nation forward urging that Nigeria should be placed above sectional interest.