2025 Budget: Lawmaker Canvasses Priority of National Interest
Ndubuisi Francis in Abuja
As the National Assembly considers the N49.7 trillion 2025 budget proposal, a member of the House of Representatives representing Enugu East/Isi Uzo Federal Constituency of Enugu State, Prof. Paul Sunday Nnamchi, has underscored the need to prioritise national interest over and above sectional considerations while working towards moving the nation forward.
In an interview in Abuja, Nnamchi, who applauded the budget proposal, described it as ambitious, growth-sustaining and expected to bring down interest rates.
The lawmaker stressed that the proposed budget was also expected to support investments, promote production, and sustain growth as well as reduce inflation
According to him, the budget is 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.
According to Nnamchi, “It is expected to bring down interest rates, support investments, promote production and sustain growth and reduce inflation.”
He also acknowledged the progress made in security, particularly in the Niger Delta region, which has contributed to increased oil production from 1.2 million barrels per day (mbpd) to 1.8 mbpd.
Noting that a key highlight of the budget proposal is a significant allocation to security, Nnamchi observed that it was crucial in 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,” the lawmaker said.
He stressed 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,” he said.
