Kehinde Fajobi
President Bola Tinubu on Wednesday presented the ₦47.9 trillion 2025 Budget Proposal, titled “The Resurrection Budget: Securing Peace, Building Prosperity,” to a joint session of the National Assembly.
In his 30-minute speech, which concluded at 1:10 p.m., Tinubu highlighted significant allocations for key sectors, including ₦4.91 trillion for defence and security, ₦4.06 trillion for infrastructure, ₦2.4 trillion for health, and ₦3.5 trillion for education.
“The 2025 budget seeks to restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction, and promote equitable income distribution and human capital development,” Tinubu stated.
He projected revenue of ₦34.8 trillion to fund the budget, with total expenditure estimated at ₦47.9 trillion, including ₦15.81 trillion for debt servicing.
The budget deficit of ₦13 trillion, or 3.89% of GDP, reflects the administration’s ambitious goals.
“This is an ambitious but necessary budget to secure our future,” Tinubu declared.
The President reaffirmed his government’s commitment to economic renewal, stating that reforms implemented over the past 18 months are yielding results.
“The reforms are yielding results; no reversals,” he said.
Addressing food security, Tinubu assured Nigerians that the government is taking decisive steps to ensure no one goes to bed hungry.
“Our 2025 budget is not just another statement of projected government revenue and expenditure; it is one that calls for action,” he noted.
He emphasised the need for collective action against corruption and insecurity.
“Our nation faces existential threats from corruption and insecurity. These challenges are surmountable when we work collaboratively. We must rewrite the narrative of this nation. The time for lamentation is over. The time to act is now,” he said.
Tinubu was accompanied by key officials, including Secretary to the Government of the Federation George Akume and Chief of Staff Femi Gbajabiamila.
The presentation was initially scheduled for Tuesday but was postponed to Wednesday following a Federal Executive Council meeting on Monday.