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Tinubu Presents N47.9tr ‘2025 Budget of Restoration’ as 5 Critical Sectors Top List

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Tinubu Presents N47.9tr ‘2025 Budget of Restoration’ as 5 Critical Sectors Top List

Tinubu Presents N47.9tr ‘2025 Budget of Restoration’ as 5 Critical Sectors Top List

by iDeemlawful
December 18, 2024
in Breaking News, Featured
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President Bola Tinubu, has proposed a budget of 47.9 trillion Naira for 2025, titled “Budget of Restoration” with Five key sectors have been identified for priority funding.

Tinubu presented the ₦47.9 trillion 2025 budget tagged the Budget of Restoration: Securing Peace, Building Prosperity to a joint session of the National Assembly.

The ₦47.9 trillion proposal is designed to solidify ongoing economic reforms, tackle insecurity, and lay the groundwork for long-term national prosperity.

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“This is not just a budget, it is a declaration of resolve. The journey ahead demands sacrifices, unity, and the indomitable Nigerian spirit,” Tinubu emphasized in his address.

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Budget Breakdown

The president has allocated funds to key sectors critical for growth and development:

Defense and Security: ₦4.91 trillion to enhance national security and combat insecurity across the country.

Infrastructure: ₦4.06 trillion for transport, energy, and public works, including legacy projects like the Lagos-Calabar Highway.

Education: ₦3.5 trillion to strengthen education infrastructure and expand access to student loans.

Healthcare: ₦2.48 trillion to revitalize healthcare facilities and achieve universal health coverage.

Economic Goals and Projections
The 2025 budget aims to generate ₦34.8 trillion in revenue while reducing the deficit to 3.89% of GDP.

Key economic targets include reducing inflation from 34.6% to 15%, improving the exchange rate to ₦1,500 per dollar, and increasing crude oil production to 2.06 million barrels per day.

Tinubu highlighted key milestones achieved in 2024, including a 3.46% GDP growth and foreign reserves reaching $42 billion.

These results, he said, reflect the administration’s policy-driven approach to economic stabilization.

Calling the budget a foundation for transformation, Tinubu urged Nigerians to remain steadfast and hopeful.

“This is a budget of action, reform, and resilience. Together, we will rebuild the fabric of our nation and secure a prosperous future for generations to come,” he said.

The National Assembly will now debate the proposed budget for the year 2025.

Tags: Bola Ahmed TinubuNigeria Government
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