The Tinubu Media Volunteers (TMV) have described the allocation of N23. 963 trillion amounting to over 40% of the total budget as capital expenditure in the 2025 budget as a game changer in President Tinubu’s efforts to develop the country.
In a statement signed by its Chairman Chukwudi Enekwechi and Secretary Shedrach Sunday, TMV was emphatic that it would accelerate infrastructural development.
It said : This is the first time we are having 40% of the national budget allocated to the capital sector, as recurrent expenditure is known to take the lion’s share of previous budgets.
“We also acknowledge that the huge capital allocation stemmed from President Bola Tinubu’s determination to make Nigeria work for businesses and the people, rather than channelling such resources to the bureaucracy in the form of recurrent expenditure.
“The truth is that the huge allocation to the capital sector will lead to a productive economy that will create jobs, and stimulate the national economy.
“We believe that with the reduced emphasis on recurrent expenditure, which is consumptive in favour of people-centric federal spending, the trend will spiral to the budgets of the sub-nationals thereby leading to significant improvement in the country’s Gross Domestic Product (GDP).
“We therefore call on the ministries, departments and agencies responsible for budget implementation to live up to their duties once the President signs the bill into law.”
TMV explained that this will ensure a speedy delivery of dividends of democracy under the Renewed Hope Agenda of the President Tinubu administration.
(vitalnewsngr.com)
