Another day, another wahala
Nigeria’s 2025 budget is 91% higher than last year’s
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Let’s get into today’s edition:
Nigeria’s 2025 budget is 91% higher than last year’s
UCH doctors want to go on indefinite strike
The Big Deal
Nigeria’s 2025 budget is 91% higher than last year’s
If you’re wondering where Nigeria is financially in 2025, we’re in Spain, but the S is painfully silent. The Nigerian Senate has officially approved what might go down in history as Nigeria’s highest national budget —for context, this budget is 91% higher than the previous year’s.
How it started: About a week ago, President Bola Tinubu received an impressive report that some government agencies generated ₦4.4 trillion in 2024. The president must have skipped Financial Literacy 101 classes because instead of hoarding the money, he decided to pour it back into some “national priorities” by increasing the national budget from the ₦49.7 trillion he proposed initially to ₦54.2 trillion.
Where is the money going? The approved budget stands (after extra additions) at approximately ₦54.9 trillion. Out of this, ₦3.6 trillion has been marked for Statutory Transfers, ₦14.3 trillion will go into debt servicing(yes, debt servicing), ₦13.06 trillion is allocated to recurrent (non-debt) expenditure, and ₦23.96 trillion is meant for capital expenditure.
But that’s not all. After passing the budget, the Senate added an extra ₦300 billion to the mix because the United States suspended funding vaccines and drugs for malaria, polio, HIV, and tuberculosis in Nigeria. The added funds will be used to control the effects of USAID’s suspension. They also assigned extra money to keep “critical agencies” like the Economic and Financial Crimes Commission (EFCC) running.
Why is this a big deal?
Nigeria’s budget keeps getting bigger, but not in a way that improves people’s lives. A considerable part of it—₦14.3 trillion—is going straight into paying off the interest on our debts. For clarity, the ₦14.3 trillion won’t be reducing what we owe; it’ll just ensure we don’t default. Imagine borrowing money just to pay the interest on another loan—that’s exactly what the government is doing.
The problem is that the more money we spend on debt, the less we have for important things like fixing roads, improving hospitals, funding schools, and creating jobs. Instead of using our resources to build a better economy, we’re stuck in a cycle of borrowing, paying back interest, and then borrowing again to cover the shortfall, while basic things like electricity, security, and healthcare remain in terrible shape.
This “borrow now and pay later” policy is going to leave the economy in shambles, and it will manifest in different ways for everyone involved
For the average Nigerian, this entire borrowing business translates to more hardship—prices that won’t stop rising, salaries that won’t stretch as far, and a government without enough money to fix the things that matter. For investors, it translates to a country with more financial risks than profit. And for the government? A deeper sink into the endless borrowing cycle and hoping for a miracle to fix its mess. Long story short, we’re in trouble.
UCH doctors want to go on indefinite strike
Remember when we gently reminded you to take your health seriously because some Nigerian hospitals are operating without power supply?
Well, the situation has escalated. The resident doctors at the University College Hospital (UCH), Ibadan, have had enough and are threatening to go on an indefinite strike if electricity is not restored to their residential quarters.
After over 100 days in darkness, UCH was finally reconnected to the power grid on February 12, 2025. But here’s the insane part: while the hospital itself now has light, the doctors’ quarters remain in darkness even though they have prepaid meters loaded with hundreds of thousands of naira worth of electricity units.
Frustrated by this, the Association of Resident Doctors (ARD) held an emergency meeting on Friday, February 14 and issued an ultimatum, giving FG till Monday, February 17, to respond. So far, it’s been radio silence. If power isn’t restored today (since yesterday was the deadline), work might be stopped indefinitely.
Power supply isn’t the only issue on their minds, though. The doctors also want to be included in all discussions about the electricity supply at UCH so they’re not left in the dark (literally and figuratively). They’re also demanding the immediate payment of their 75% accoutrement allowance for 2024 and the continuation of “call food” provisions.
If nothing changes, UCH might soon have a fully lit hospital with no doctors to attend to patients. We want to tell you how bad this would be for the people of Ibadan and how you should get on social media and pressure the government, but we’ll be sounding like broken records at this point. The only thing left to say might be a good old God abeg.
This Week’s Big Question
“If you could meet one Nigerian politician (dead or alive), who would it be?”
Debola’s response - “I would love to meet Obasanjo. Some Nigerians consider him the best president we’ve ever had. I’d be curious to hear his thoughts on whether being denied a third term contributed to the struggles we face today.”
You can also share your response here, and if it’s as interesting Debola’s, we’ll feature it in the next edition.
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