…NACCIMA Flags Concerns Over N13 Trillion Deficit
The Civil Society Legislative Advocacy Centre (CISLAC) has opposed President Bola Tinubu’s proposal to increase Nigeria’s 2025 budget from N49.7 trillion to N54.2 trillion.
Similarly, the Nigerian Association of Chambers of Commerce, Industries, Mines, and Agriculture (NACCIMA) has raised concerns about the country’s economic outlook, citing a growing budget deficit and insufficient support for the private sector.
CISLAC’s Executive Director, Auwal Rafsanjani, in a statement to the press, acknowledged reports of additional government revenue but described the proposed N4.5 trillion increase as both unprecedented and potentially unconstitutional.
He cited Section 81(4) of the 1999 Constitution, which mandates that if allocated funds are insufficient or additional spending is required, a supplementary estimate must be formally presented to the National Assembly. According to CISLAC, bypassing this constitutional requirement raises serious legal and procedural concerns.
Rafsanjani, who also heads Transparency International Nigeria (TIN), criticized the executive’s approach, stating that instead of submitting a supplementary appropriation bill, the government merely informed the National Assembly via a letter. He warned that such actions undermine legislative oversight and set a dangerous precedent for fiscal governance.
“The cited additional revenues were not unexpected; failing to include them in the original budget points to poor fiscal planning,” the statement read.
He further lamented the lack of prior consultation with the National Assembly before making such a major adjustment, arguing that this unilateral decision-making weakens the constitutional principle of checks and balances.
Meanwhile, NACCIMA President Dele Oye, speaking on Arise News’ This Morning Show, expressed concerns over Nigeria’s widening budget deficit, now estimated at N13 trillion—a figure that has grown further with the proposed N4.5 trillion increase.
While acknowledging the government’s effort to direct some funds toward the Bank of Agriculture (BoA) and the Bank of Industry (BoI), Oye stressed the need for proper funding to ensure the availability of affordable, single-digit interest loans for the productive sector.
