Kehinde Fajobi
Senate President Godswill Akpabio has called on lawmakers and stakeholders to ensure the 2025 ₦49.74 trillion budget prioritises the welfare of Nigerians.
Speaking at the Stakeholders Public Hearing on the Appropriation Bill in Abuja, Akpabio stressed the need for the budget to reflect the hopes and aspirations of the Nigerian people and align with the promises made by President Bola Tinubu’s administration.
Akpabio remarked, “Together, we must ensure that this budget is not a mere ledger of revenue and expenditures but a living document that prioritises the welfare of every Nigerian.”
He highlighted the historical significance of budgets in shaping societies, addressing inequalities, and fostering growth.
“Nations that have achieved remarkable progress understood that budgets must not only reflect the priorities of government but also the hopes and needs of the people,” Akpabio added.
He reaffirmed the National Assembly’s commitment to collaborating with the Executive to ensure a realistic and implementable budget.
He also reminded all stakeholders that the success of the budget depends on active public participation and transparency.
“This budget is our collective responsibility,” he said, referencing an African proverb, “The man who uses a spoon with his neighbour does not eat alone.”
Senator Solomon Olamilekan Adeola, Chairman of the Senate Committee on Appropriation, expressed confidence in the 2025 budget’s sectoral allocations, particularly the ₦4.91 trillion allocated to Defence and Security.
Adeola said, “This allocation underscores the government’s determination to tackle insecurity, which remains a significant impediment to economic stability and foreign investment.”
Adeola also outlined key allocations: ₦4.06 trillion for Infrastructure Development, ₦3.52 trillion for Education, and ₦2.48 trillion for Health.
These investments aim to strengthen national defence, improve infrastructure, enhance education, and boost healthcare delivery systems.
Senator Adeola assured the public that the National Assembly would ensure the proper implementation of the 2025 budget’s economic assumptions, including an exchange rate of ₦1,500 to $1, crude oil benchmark of $75 per barrel, and a projected production of 2.06 million barrels per day.
“The Appropriations Committee would engage relevant MDAs and other stakeholders to determine the feasibility of these assumptions and follow-up throughout the year to ensure the budget’s successful implementation,” Adeola concluded.