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Experts Blast Buhari For Basing 2020 Budget On 7.5% VAT …As President Presents N10.33trn Budget, To Service Debt With N2.45trn …Budget’ll Impoverish, Mortgage Future Of Nigerians, PDP, CUPP Laments

Some economic experts have expressed concern over the Federal Government’s decision to base the estimated revenue from Value Added Tax (VAT) in 2020 on 7.5 per cent instead of five per cent.
Dr Patricia Auta, an Economic Analyst, while reacting to the N10.33 trillion budget submitted to the National Assembly yesterday in Abuja said that the government had acted prematurely in using 7.5 per cent instead of five per cent.
He told our correspondent that the proposed hike in VAT would have to be approve by the National Assembly before it comes into effect, adding that it had not been done.
According to him, the government should not have used it in calculating its revenue estimates.
“It’s my opinion that the government cannot just assume that the National Assembly will approve the VAT increment from five per cent to 7.5 per cent.
“As much as it’s important for the government to increase its tax revenue, increasing VAT is not the right way to go.
“VAT is a multi-level tax on consumption and the burden rest on the final consumer and not the business so the people are the ones who will bear the brunt of the increase.
“Government needs to pay attention to expanding the tax net and ensure that businesses pay tax, especially those multinational companies. That’s where the money is,” she said.
Another expert, Mr. Jibrin Ibrahim said that the government was overly optimistic in their revenue targets, which includes the VAT component.
He said that as much as increasing revenue was important, it should not be done at the expense of the people.
Ibrahim also expressed his concern over the sum allocated to education and health compared to other sectors.
He said with the infrastructure gap in the education and health sectors, it was surprising that only N48 billion was budgeted for Education and N46 billion for Health, out of the N2.46 trillion earmarked for Capital Expenditure.
Ibrahim urged the National Assembly to examine the major components of the budget for the benefit and development of the nation.
President Muhammadu Buhari yesterday presented a budget proposal of N10.33 trillion to a joint session of the National Assembly.
Buhari puts the Federal Government’s estimated revenue in 2020 at N8.155 trillion, comprising oil revenue of N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenue of N3.7 trillion.
President Buhari said debt servicing in the 2020 budget will gulp N2.45trn, out of which local debts would take N296bn.
Overhead cost will be N426.6bn, he said.
Other estimates are N556.7 billion for statutory transfers; N2.45 trillion for debt servicing and provision of N296 billion as sinking fund.
The 2020 budget is based on an oil production estimate of 2.18 million barrels per day, oil price benchmark of 57 dollars per barrel and an exchange rate of N305 to a dollar.
Other benchmarks are: real Gross Domestic Product (GDP), growth rate of 2.93 per cent while inflation rate “is expected to remain slightly above single digits in 2020’’.
Mr. President during the declaration said that N125 billion was allocated to the National Assembly while N110 billion was allocated to the Judiciary.
For allocations to ministries, the president affirmed the following allocations to respective ministries.
Works and Housing – N262 billion, Transportation – N123 billion, UBEC – N112 billion, Defence – N100 billion, Agriculture – N83 billion, Water Resources – N82 billion, Education – N48 billion, Health – N46 billion, North East Development Commission – N38 billion, SIPs – N30 billion, FCT – N28 billion and Niger Delta – N24 billion.
However, Senate President, Ahmed Lawan in his speech charged all government ministries, departments and agencies to defend their proposals before lawmakers before the end of October.
He also said the lawmakers should ensure the budget got passed before the end of the year.
The Peoples Democratic Party (PDP), in its reaction yesterday, said the N10.7trillion 2020 budget presented by President Muhammadu Buhari to the National Assembly would further impoverish Nigerians and mortgage the future of the nation and its citizens.
This is even as the party urged the legislature to redirect the fiscal proposal to serve the interest of the vast majority of Nigerians.
A statement issued by the party’s National Publicity Secretary, Kola Ologbondiyan, described the appropriation bill as “hazy, showing streaks of padding, fraudulent duplication, replete with false performance indices, deceptive projections and inexplicable expenditure assertions which create openings for continued looting of our national patrimony by leaders of the All Progressives Congress (APC) and persons close to the Presidency.”
It read in part: “The PDP insists that it is inexcusable that despite the huge natural resources at President Buhari’s reach, he articulated an N10.7trillion budget that is completely lacking in concrete wealth creation strategy but relies on further squeezing of Nigerians through excruciating taxes, levies and agonizing tolls.
“The party described as unacceptable that the budget is skewed to serve the interest of the opulent, as projects that have a direct bearing on the wellbeing of the masses were not substantially accommodated in the overall expenditure profile.
The party also criticized the Buhari-led administration for “not being transparent in the mammoth allocations for alleged vague projects, particularly the Ministries of Works and Housing as well as Transportation, where allegations of diversion of public funds were endemic in the last budget.
“Standing with millions of Nigerian youths and women, our party rejects the paltry budgets of N48billion for Education and N46billion for Health, and urges the National Assembly to review the allocations in the interest of Nigerians.
“Furthermore, the PDP notes, as unacceptable that President Buhari, in his budget speech, could not give an account of his handling of the 2019 budget and had to resort to lame excuses and unsupported figures, particularly on the various unimplemented subheads in critical sectors of the economy.
“Moreover, Mr President failed to explain why his administration has remained hugely corrupt and how his Presidency depleted our foreign reserves to an all-time low of $41,852billion accumulated huge foreign and domestic debts and kept the naira at its knees at about N360 to $1 under his watch.”
The party also challenged the Presidency to make public the details of the Presidency allocation for Nigerians to “see the billion being spent to finance the opulent lifestyle of the Buhari Presidency, despite Mr President’s claims of prudence and sacrifice.”
The Peoples Democratic Party (PDP) also urged the National Assembly (NASS) to redirect the 2020 budget to areas that would better serve the interest of majority of Nigerians.
Ologbondiyan said that the budget as it is would further impoverish Nigerians and mortgage the future of the nation.
These, according to him, would create openings for diversion of public funds.
Also, the Coalition of United Political Parties (CUPP) has described the 2020 Budget presented to the National Assembly by President Muhammadu Buhari as heavy buy lacking substance.
This came as it announced that it was heading for the court to challenge the planned increment in the Value Added Tax (VAT), by the Federal Government.
CUPP particularly said the budget was similar to a heavy travelling bag that has no substance in it.
In a statement issued by its spokesman, Ikenga Ugochinye, yesterday, the opposition political group, said it regretted to announce to the nation that with the budget presented by the president,” the days of the nation’s suffering are not any way close to an end.”
The statement reads, “The Coalition of United Political Parties (CUPP), having listened critically to President Muhammadu Buhari’s 2020 Appropriation Bill as presented to the joint session of the National Assembly on Tuesday, regrets to inform Nigerians that the days of the nation’s suffering are not any way close to an end.
“The president has by today’s budget presentation shown that he has no formula to save the nation’s economy from the impending final ruins that his mismanagement has caused.
“Opposition parties see this fiscal document as an empty document that is not worth the paper on which it was written. It is full of rhetoric; Buhari’s appropriation bill can best be described as a heavy travel bag that is empty in substance or value.
“The CUPP notes that this document is a final weapon to consolidate Buhari’s next level of economic ruins, poverty, looting and visionlessness. It is a come and chop document meant to further impoverish many and prosper the privileged few.
”The ppposition rejects the inclusion of the illegal proposed increment in VAT as part of the 2020 budget expected source of funding. This has shown that the budget is built in the sky with no serious source of funding except taxing the people to death.
“The opposition coalition has therefore resolved to head to court this week to stop the planned insensitive move to tax the suffering citizens of Nigeria to death with the proposed increment in VAT from 5% to over 7%.
“The president should not force the suffering citizens to bear the consequences of his leadership failures.”
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17 Million Nigerians Travelled Abroad In One Year -NANTA

The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”
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Tinubu Commissions Afam 11 Power Plant …Urges Stronger Private Sector Partnership In Power Sector

President Bola Tinubu has restated the commitment of the Federal Government towards achieving sustainable electricity supply and industrialisation in Nigeria.
Tinubu gave the declaration during the commissioning of the newly constructed 180 megawatts Afam 11 Power Plant located in Afam, Oyigbo Local Government Area in Rivers State on Wednesday.
He said the completion of the project within just 16 months was a key achievement in the power sector.
The President who addressed Nigerians virtually during the event, emphasized that the project, which is a landmark partnership between Crescendough Nigeria Limited (CNL) and Sahara Power Group, underscored the tenacity of his administration to promote success in private sector partnership and development, adding that the feat will increase industrialisation and economic growth in the country.
The president commended the Rivers State Government, the contractors, Sahara Energies and Crescendough Nigeria Limited (CNL) for the successful delivery of the project on record time.
While urging stronger collaboration among stakeholders to achieve a more globally competitive Nigeria, Tinubu said achieving sustainable power supply remains an unwavering goal under his administration
The President described the project as a testament to the blossoming investment opportunities fostered by his administration’s well-structured policies, which prioritize national development and private sector participation.
He emphasized that the Afam II Plant will not only bolster Nigeria’s power generation capacity by adding 180MW to the national grid but also energize businesses, industries, healthcare facilities, and households, igniting hope for a brighter economic future.
“The completion of the Afam II Plant within just 16 months reinforces our capacity to overcome challenges through collaboration, tenacity, and unwavering commitment under the Renewed Hope Agenda,” President Tinubu stated. “Achieving stable power supply remains a top priority for this administration. I have directed the Honourable Minister of Power and all stakeholders in the power value chain to work collectively towards our declaration to light up Nigeria.”
“We solicit the support of all Nigerians as we implement reforms and strategies to transform the power sector. Our administration will continue to enforce policies that attract investments—both local and foreign—to achieve this critical goal,” he affirmed.
In his remarks, the Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (Rtd), hailed the project as a product of visionary leadership and private sector empowerment.
He noted that President Tinubu’s enabling policies have spurred bold investments across key sectors, including power, agriculture, oil and gas, education, and transportation.
“This power plant reflects the long-standing vision of successive Rivers State administrations to expand energy infrastructure beyond oil and gas, driving industrial growth,” Vice Admiral Ibas said. “Beyond boosting electricity supply, this project has created jobs and skills development opportunities for youths in Afam. I commend the host community for their cooperation, proving that peace and development go hand in hand,” he said.
The Minister of Power, Adebayo Adelabu, described the Afam II Plant as a commendable milestone showcasing the private sector’s pivotal role in enhancing power generation within a conducive business environment.
Similarly, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, applauded Rivers State’s sustained investments in energy infrastructure since 2011, culminating in the Afam II Plant’s success.
Speaking at the event, the Group Managing Director of Sahara Power Group, Kola Adesina, highlighted that the partnership reinforces Sahara’s position as Nigeria’s largest private-sector electricity provider, contributing 20% of the nation’s power supply and driving sustainable development.
He described the project as a celebration of collaboration, intentional strategic and sustainable partnership that make Nigeria an industrial hub.
He commended President Tinubu’s Renewed Hope Agenda, while also thanking the host communities for their support.
The Tide reports that the Afam II Power Plant stands as a beacon of progress, underscoring Nigeria’s resolve to achieving energy security, economic growth, and industrial transformation under the Renewed Hope Agenda.
Taneh Beemene
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Tight Security As Muslims Celebrate Eid-el-Kabir, Today

As Muslim faithful celebrate the Eid-el-Kabir today, security agencies, including the Federal Road Safety Corps, National Security and Civil Defence Corps, and the Nigerian Police have deployed over 50,000 personnel to secure shopping malls, prayer grounds, motor parks, markets, recreational centres and various government buildings for the celebrations.
The FRSC, in a statement by its spokesperson, Olusegun Ogungbemide, on Wednesday, stated that over 36,000 personnel, including regular and special marshals, will be deployed across the country.
This is as he disclosed that the FRSC has commenced a nationwide special patrol operation in preparation for the Eid el-Kabir celebrations slated for today.
The operation will be supported by 750 patrol vehicles, 120 ambulances, 25 tow trucks, and more than 200 motorbikes.
The initiative, which runs from June 5 to June 11, aims to ensure road safety and manage traffic flow during the festive period.
The statement read in part, “Pursuant to the declaration of Friday, 6 June 2025 as the day of Eid el Kabir in Nigeria, the Federal Road Safety Corps has commenced massive Mobilisation of its personnel and operational equipment for the Sallah special patrol aimed at ensuring safer road environment, before, during the festive period and beyond.
“The Operations Order states that not fewer than 36,000 of the FRSC regular, special marshals, and about 750 patrol vehicles, 120 ambulances, 25 tow trucks and over 200 Bikes would be on the road during the special operation that would commence from 05 to 11 June 2025.”
The statement noted that the Corps Marshal, Shehu Mohammed, disclosed that the special patrol was designed to facilitate free vehicular movement, enable prompt rescue operations, and promptly clear road obstructions.
Mohammed stressed the corps’ commitment to reducing road traffic crashes through effective patrols and public enlightenment.
The statement read in part, “To ensure the effectiveness of the operations, the Corps Marshal, Shehu Mohammed, directed commanding officers operating across various formations nationwide to ensure that the 52 corridors are properly manned throughout the operations.
“He, however, appealed to motorists to obey all traffic rules and regulations and cooperate fully with the FRSC and other law enforcement agencies that would be deployed for traffic management duties, saying mobile courts would be in session across the country for prompt dispensation of justice to recalcitrant traffic violators.
“The Corps Marshal also directed that the operatives pay first-rate focus on effective traffic control, wrongful overtaking, use of phone while driving, driver licence violation, lane discipline, removal of rickety vehicles on the road, driving with expired/worn-out tyre and those without spare tyre etc.”
The statement added that commanding officers have been instructed to ensure full coverage of 52 key corridors across the country, including major highways such as Akwanga-Lafiya-Makurdi, Abuja-Kaduna-Kano, Sagamu-Mowe-Lagos, and Jos-Bauchi-Gombe, among others.
The corps also stated that it had equipped its officers with radar guns and breathalysers to monitor speed and deter drunk driving.
It urged all road users to cooperate with enforcement officers and to advocate for responsible driving habits during the festivities.
In the same vein, The Lagos State Police Command has rolled out a robust security plan to ensure a safe and peaceful Eid el-Kabir celebration across the state.
This was contained in a statement yesterday, by the command’s Police Public Relations Officer, CSP Benjamin Hundeyin, issued on behalf of the Commissioner of Police, CP Olohundare Jimoh.
According to the statement, the CP has ordered the deployment of various tactical and conventional police teams across the State to preempt and prevent any form of criminal activity during the festive period.
The statement partly read, “The Commissioner of Police, Lagos State Command, CP Olohundare Jimoh, has ordered the immediate deployment of conventional police personnel, the Rapid Response Squad, the Eko Strike Force, and other tactical squads of the Nigeria Police Force to all strategic locations across the length and breadth of Lagos State.
“Special anti-crime prevention teams have also been deployed to identified black spots, criminal hideouts, and other flashpoints to prevent crimes and criminality throughout the state, build public confidence, and dispel the fear of crime from the minds of all Lagosians and visitors alike, to guarantee safety and ensure a hitch-free Eid el-Kabir Sallah celebration during this festive season and beyond.”
It added that to strengthen operational coverage, the commissioner also deployed highly trained officers from the Force’s elite units.
“Consequently, the Commissioner of Police has deployed strike forces of the NPF and tactical squad officers from the Police Mobile Force, Counter-Terrorism Unit, Special Protection Unit, Intelligence Department, Anti-Bomb Squad, and conventional teams across the state, with Armoured Personnel Carriers and other vehicular patrol teams, to focus strictly on providing security and protection at all Eid praying grounds, mosques and religious facilities, venues of gatherings and celebrations, and other areas of recreation, in order to ensure the safety and security of Muslim faithful and other non-Muslims who will be joining in the celebrations”, the statement further stated.
The command also assured Lagosians that key public areas would be closely monitored, stating, “Particular security attention is focused on recreation centres and other public spaces where large gatherings are anticipated. These spaces will be thoroughly policed to ensure effective crowd control, traffic management, and ease of movement across Lagos State.
“Additional proactive measures are being implemented to prevent crimes, ensure prompt detection of criminal activity, and address any emerging security concerns across the state.”
The statement further added that maintaining peace throughout the celebration remains a top priority for the Lagos Police Command, stating, “The maintenance of public order before, during, and after the festivities remains the utmost priority of the Command.
Meanwhile, the NSCDC in Lagos has also mobilised 2,150 officers across the state.
A statement by the Lagos Civil Defence Public Relations Officer, Oluwaseun Abolurin, indicated that the officers are to ensure adequate security and prevent unscrupulous elements from vandalising critical national assets and infrastructure in the state.
The statement quoted the Lagos State Commandant of the NSCDC, Mr Adedotun Keshinro, as assuring that operational strategies had been put in place to help rid the state of criminals and eradicate the nefarious activities of vandals and other criminal elements that take action inimical to the economic growth and development of the state.
“The officers and men across all formations of the command have been charged to bring the right and appropriate impetus on board to protect all strategic locations, points, facilities, right of ways, oil pipeline installations, religious and worship centres, parks and gardens and all assets belonging to the local, state, and Federal Government of Nigeria and more in the state,” the statement read.
In Katsina, the State Police Command said it had deployed adequate security measures to protect lives and property during and after Sallah celebrations across the state.
This was contained in a statement by the Command Public Relations Officer, DSP Abubakar Sadiq and made available to newsmen in Katsina, on Wednesday.
According to the statement, “The Katsina State Police Command under the able leadership of CP Bello Shehu, is pleased to announce that given the forthcoming Eid-el Kabir festival, it has put in place adequate security arrangements to ensure a peaceful and hitch-free Sallah celebration throughout the state. To achieve this, the command has deployed adequate personnel and assets to strategic locations across the state.”
It warned against reckless and unlawful horse riding, dangerous driving, unlawful gathering, substance abuse, etcetera, which may cause chaos and endanger the lives of good people of the state.
In Delta, the Commissioner of Police, CP Olufemi Abaniwonda, ordered massive deployment of personnel from Area Commands, Tactical formations, and divisions to provide adequate security in all Muslim prayer grounds and strategic locations across the state.
The commissioner also directed all Divisional Police Officers to intensify raids of criminal hideouts and black spots within their areas of responsibility.
This was contained in a signed statement by the police public relations officer for Delta State Command, SP Bright Edafe, on Wednesday.
According to the statement, the police boss has assured the public, particularly the Muslim faithful, of adequate security and free flow of traffic in the state during the Eid-el-Kabir celebration.
The Commissioner of Police noted that “in recognition of the significance of the sacred occasion, the Command will be working in close synergy with other sister security agencies which include the Military, DSS, NSCDC, Road Safety, etc to ensure that the activities of all unfriendly forces such as kidnappers, armed robbers, cultists, etc are nipped in the bud.”
In Kwara State, the NSCDC assured all residents and visitors of a peaceful and well-secured festive season across the state.
The State Commandant, Mohammed Umar, ordered the deployment of 2,900 officers and men across all 16 local government areas to ensure full coverage of critical infrastructure, prayer grounds, recreational centres, and other high-traffic locations.
A statement by the Public Relations Officer of the command, Ayoola Michael, on Wednesday, said, “All area Commanders, Divisional Officers, and Tactical Units have been directed to remain on high alert and sustain proactive engagements with communities.”
Meanwhile, the Federal Capital Territory Command of the NSCDC has “deployed 4,500 personnel across the nooks and crannies of the FCT” ahead of the upcoming Eid-el-Kabir celebrations.
Commandant Olusola Odumosu, who heads the FCT Command, announced the deployment as part of efforts to ensure public safety and the protection of critical national assets before, during, and after the festivities.
According to a statement signed by the command’s spokesperson, Monica Ojobi, on Wednesday, the deployment spanned specialised units, including the Female Strike Force, Arms Squad, Operation Adkasu, Critical National Assets and Infrastructure Unit, and the Chemical, Biological, Radiological, Nuclear, and Explosives Unit.
The statement revealed that officers had been stationed at key public locations considered vulnerable, such as shopping malls, prayer grounds, motor parks, markets, recreational centres, the City Gate, the Three Arms Zone, amusement parks, and various government buildings.
Odumosu emphasised the importance of full personnel deployment and warned that lapses would not be tolerated.
Residents of the FCT were urged to remain vigilant and report any suspicious activity to the nearest security agency. The command assured the public of its readiness to provide a safe environment throughout the celebration period.
Odumosu also warned criminals and vandals to steer clear of critical infrastructure, noting that covert security personnel are actively monitoring the city and will take swift action against any offenders.
“My personnel are ready to ensure you have a peaceful celebration, you have a part to play too by being proactive,” he stated.
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