President Bola Ahmed Tinubu has presented the 2025 federal budget, titled The Budget of Restoration: Securing Peace, Building Prosperity, to a joint session of the National Assembly.
The ₦47.9 trillion proposal focuses on consolidating economic reforms, enhancing national security, and fostering long-term prosperity for Nigeria.
“This is more than a budget; it is a testament to our resolve. The path ahead requires sacrifices, unity, and the indomitable Nigerian spirit,” President Tinubu stated during his address.
The proposed budget emphasizes strategic investments in key sectors critical to Nigeria’s growth and development:
* Defense and Security: ₦4.91 trillion allocated to strengthen national security and combat widespread insecurity.
* Infrastructure: ₦4.06 trillion earmarked for transport, energy, and public works, including the Lagos-Calabar Highway and other legacy projects.
* Education: ₦3.5 trillion dedicated to improving educational infrastructure and broadening access to student loans.
* Healthcare: ₦2.48 trillion for revitalizing healthcare facilities and advancing universal health coverage.
As regards the economy, the 2025 budget is predicated on a revenue projection of ₦34.8 trillion with a reduction in the fiscal deficit to 3.89% of GDP. The Key economic targets include:
* Reducing inflation from 34.6% to 15%.
* Stabilizing the exchange rate at ₦1,500 per dollar.
* Increasing crude oil production to 2.06 million barrels per day.
The budget proposal now awaits deliberation and approval by the National Assembly.
