The People’s Democratic Party (PDP) said there is nothing to celebrate in the 2026 budget proposal presented to the National Assembly by President Bola Tinubu on Friday.

Instead, the budget, which the president titled, “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” according to the party, is a consolidation of renewed sufferings that Nigerians have witnessed since the birth of this administration.

PDP, in a statement by the National Publicity Secretary Ini Emembong, noted that the president cited a 3.98% gross domestic product (GDP) growth rate as evidence of economic stabilisation under his administration, which has not translated into the lives of ordinary Nigerians.

The party reminded President Tinubu that economic growth alone does not guarantee improved living standards for citizens, noting that “the 2025 World Bank Poverty & Equity Brief, said more than 30.9% of Nigerians live below the international extreme poverty line.

“This shows that there is growth without prosperity for our citizens, meaning that despite GDP growth, poverty remains endemic.

“This clearly indicates that whatever economic gains exist are not reaching the majority of Nigerians.”

PDP noted that the president claimed that the Nigerian economy under his watch grew by 3.98% without stating the sectors that stimulated the growth or identifying those who benefited from it.

“This figure reflects the economic decline the nation has suffered under the leadership of the APC-led Federal Government when compared to the growth rate of 6.87% recorded in 2013 (same period under the last PDP administration), which was driven largely by non-oil sectors such as agriculture and trade,” the statement added.

It added that while Tinubu celebrates a 3.98% growth rate, the reality on ground reveals excruciating hunger, a high cost of living, and other indices of economic hardship, which Nigerians are currently facing.

The party acknowledged the increase in security allocation in the 2026 budget, but said allocation alone is not enough to contain the nation’s security challenges, but effective and transparent execution.

PDP demands that the increased budget allocation to security should translate to improvements in procurement of modern equipment, adequate ammunition, improved intelligence capabilities, and better welfare for security personnel who are currently engaged in different theatres of armed conflict.

The party also expressed concern about the admission by the president that the execution of the 2024 capital budget had been extended to December 2025, while the 2025 budget is still in force.

“This confirms the long-standing rumours of the concurrent operation of multiple budgets,” PDP said.

According to the party, every budget has a defined period of operation, and no two budgets operate concurrently.

“The operation of different budgets at the same time undermines fiscal discipline, transparency, and accountability.

“These multiple budgetary regimes show yet another unprecedented negative feat by this APC Bola Tinubu-led administration,” the party stated.