The Independent Civil Society Groups in Nigeria (ISCGN) have commended the Federal Government for the 2025 budget, stating that it demonstrates a commitment to prudent financial management and strategic allocation of resources.
The coalition of CSOs made this known in a mid-term report on the 2025 budget, while also praising the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, for his leadership in driving Nigeria's economic agenda through the budgeting process.
Speaking at the unveiling of the mid-term report, Dr. Emmanuel Agabi, President of Independent Civil Society Groups in Nigeria, emphasized that "The 2025 budget reflects a commitment to prudent financial management and strategic allocation of resources."
Strategic Budgetary Reforms
According to the report, Bagudu's stewardship has been instrumental in integrating President Bola Tinubu's Renewed Hope Agenda into the national budget and planning processes.
A significant highlight of the administration's budgetary reforms is the increase in capital expenditure to N23.4 trillion in the 2025 budget. This substantial allocation marks a robust push towards infrastructural revitalization, with key initiatives such as the Lagos-Calabar Coastal Highway and the rehabilitation of the Port Harcourt-Maiduguri rail line.
The civil society groups also lauded the administration's efforts to enhance revenue generation, promote economic diversification, and invest in human capital development.
Human Capital Development Initiatives
Agabi noted that initiatives such as the Nigeria Education Loan Fund (NELFUND) and the 3 Million Technical Talent (3MTT) Programme aim to improve access to education and foster innovation.
"These initiatives demonstrate a forward-looking governance style that seeks to dismantle systemic inefficiencies and unlock the country's economic potential," Agabi added. "We commend Senator Bagudu for his visionary leadership and commitment to transparency in the budgetary process. His efforts have added credibility to the government's planning process and reinforced public trust in the system."
Infrastructure Development Focus
The report highlights that the administration's focus on infrastructure development is evident in the Renewed Hope Infrastructure Development Fund (RHIDF), which targets the mobilization of ₦20 trillion to finance critical projects across the country.
Additionally, the government has established an Infrastructure Support Fund for states, enabling them to invest in critical areas that will create an enabling environment for businesses.
Social Welfare Programs
To mitigate the impact of economic reforms on vulnerable populations, the administration has implemented various social welfare programs, including conditional cash transfers to 15 million households and grants to support small and medium-sized enterprises.
"These measures aim to promote social inclusion, reduce poverty, and support economic resilience among disadvantaged groups," the report states.
Persistent Challenges
Despite the positive assessments, the report acknowledges that challenges persist, including high inflation driven by food prices and currency depreciation.
"The government should intensify efforts to stabilize the macroeconomic environment, enhance security, and implement targeted interventions to support food production and distribution," Agabi advised.
The report underscores the administration's commitment to driving economic growth and development through strategic budgetary reforms and investments in key sectors, despite the ongoing economic challenges facing the nation.
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