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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.
“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.
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.
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