President Bola Tinubu has presented a budget of 47.9 trillion naira to a Joint Session of the National Assembly for the 2025 fiscal year. The figure is 74.8 percent higher than the 2024 budget.  

 Presenting the 2025 appropriation document titled: “The Restoration Budget: Securing Peace, Rebuilding Prosperity budget breakdown to the National Assembly, President Tinubu said in 2025, his administration projects to raise 34.82 trillion naira to fund the budget, 15.81 trillion naira will go for debt servicing, while 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.

 While stressing that the fiscal document is an ambitious but necessary budget to secure Nigeria’s future, the President said Defence and Security will get N4.91 trillion, N2.48 trillion go for health and Infrastructural development will gulp N4.06 trillion. 

Our correspondent, Raliat Adenekan reports that the Budget presented to Lawmakers projects that inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per U.S. dollar to 1,500 naira. Equally, Crude oil production assumption is put at 2.06 million barrels per day.    

 The President said the 2025 budget deficit will be financed mainly by new borrowings.

President of the Senate, Godswill Akpabio, AND the Speaker of the National Assembly delivering their remarks, assured President Tinubu of timely passage of the 2025 Budget as well as guaranteed that the 10th National Assembly would not kill any reform bill from the Presidency aiming at development of Nigeria.

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