T lhe Peoples Democratic Party (PDP) has picked hole in the N49.7 trillion budget estimates presented by President Bola Ahmed Tinubu to the National Assembly on Wednesday.

PDP in a statement by the National Publicity Secretary Debo Ologunagba, described the 2025 budget as anti-people, and expressed the fears that it might exacerbate insecurity in the country and throw the people into poverty and hope lessness.

According to the party, “the budget as presented further confirms the insensitivity of the Tinubu-led All Progressives Congress (APC) administration towards the plight of Nigerians as it made no meaningful provisions and investments for critical productive sectors of agriculture and food production, electricity, petroleum and gas, small and medium scale enterprises, which are the real drivers of the national economy.”

PDP noted that the president in his speech, failed to disclose the capital and recurrent profiles of the 2025 budget.

The party stated that President Tinubu dashed the hope of millions of Nigerians who expected him to use the 2025 budget to make strategic provisions that would lead to the reduction in the cost of fuel, food items, electricity tariff and other essential goods and services that have direct bearing on the wellbeing of the people.

“The 2025 budget as proposed will shrink our national business environment, further cripple the productive sector, discourage domestic and foreign investors, lead to further depreciation of the Naira, worsen unemployment and inflation rate and push million more Nigerians into abject poverty and invariably heighten insecurity.

“Further distressing is President Tinubu’s claim that the economy improved under his watch even in the face of acute poverty, excruciating hardship, comatose infrastructure, collapsed productive sectors, deteriorating value of the naira, alarming 34.6 per cent inflation and 40 per cent unemployment rates in the last 18 months as validated by official figures.”