President Bola Ahmed Tinubu has unveiled Nigeria’s 2025 budget proposal to the National Assembly, emphasizing security, infrastructure, and education as critical focus areas.
Presenting the N47 trillion “Restoration Budget: Security, Peace, and Building Prosperity” during a joint session on Wednesday, Tinubu outlined key measures to address the country’s pressing challenges. The budget, approved by the Federal Executive Council earlier this week, is based on assumptions including a crude oil benchmark price of $75 per barrel, daily production of 2.06 million barrels, and an exchange rate of N1,500 to the dollar.
Key Allocations:
- Defence and Security: N4.91 trillion to bolster safety and stability.
- Infrastructure: N4.06 trillion for critical projects.
- Education: N3.5 trillion, including N50 billion for the Federal Government’s student loan scheme.
- Healthcare: N2.48 trillion to enhance medical services.
Significant Increases:
Compared to the 2024 budget, allocations for education have more than tripled, rising from N1.08 trillion to N3.5 trillion. Similarly, infrastructure spending has surged from N1.32 trillion to N4.06 trillion.
President’s Remarks:
During the session, Tinubu emphasized the urgency of addressing food security, corruption, and insecurity.
“Our 2025 budget is not just a projection of revenue and expenditure; it is a call to action. The time for lamentation is over; the time to act is now,” he declared.
He urged collective efforts to overcome Nigeria’s challenges, pledging a government committed to ensuring no Nigerian goes hungry.
Tinubu was accompanied by Secretary to the Government of the Federation, George Akume, and Chief of Staff, Femi Gbajabiamila, alongside other top officials.
