President Bola Ahmed Tinubu has unveiled a N49.7 trillion budget for 2025, aiming to slash inflation from 34.6% to 15% while prioritizing security, infrastructure, and education.
Addressing a joint session of the National Assembly in Abuja, Tinubu described the proposal as a “Budget of Restoration” designed to stabilize the economy and rebuild national confidence.
“This journey has been tough, but it’s necessary for Nigeria’s greatness,” Tinubu said, emphasizing the sacrifices made since his administration began 18 months ago. Security takes center stage with N4.91 trillion allocated, while infrastructure follows closely at N4.06 trillion. Education and health sectors receive N3.52 trillion and N2.48 trillion, respectively.
Economic Recovery in Sight
Tinubu highlighted signs of economic recovery, citing foreign reserves at $42 billion and a trade surplus of N5.8 trillion in 2024. “Our economy grew by 3.46% in Q3 2024, up from 2.54% a year earlier,” he said. The government also reported achieving 75% of its 2024 revenue target, collecting N14.55 trillion by the third quarter.
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Debt servicing, however, remains a major burden, consuming N15.81 trillion in the 2025 budget. The deficit, projected at N13.08 trillion (3.89% of GDP), reflects ongoing fiscal challenges.
Targeted Investments in Growth Areas
The administration has earmarked significant funds for education and healthcare. *“We have disbursed N34 billion to over 300,000 students via the Nigeria Education Loan Fund,”* Tinubu noted, adding that N826.9 billion will go toward infrastructure development in education. The health sector will see N402 billion allocated for infrastructure and N282.65 billion for primary healthcare.
Infrastructure projects, including the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, are set to drive economic growth. “These investments will create jobs and enhance connectivity,” Tinubu assured.
Security as a Cornerstone
Acknowledging Nigeria’s persistent security challenges, Tinubu pledged continued support for the armed forces. *”Security is the foundation of all progress,”* he said. Increased funding will provide modern tools and boost morale for security personnel.
The Senate commended the administration’s efforts. “No community is under terrorist threat today—a monumental achievement,” said Senate President Godswill Akpabio, highlighting reduced kidnapping incidents and neutralization of over 11,000 insurgents.Tax
Reforms and Social Welfare
Tinubu defended his controversial tax reforms, urging critics to examine the proposals. The reforms aim to streamline tax collection and increase revenue. The government has also introduced social welfare programs, including raising the national minimum wage to N70,000 and providing over N570 billion in support to states.
“This budget lays the groundwork for a resilient economy that benefits all Nigerians,” Tinubu concluded, urging collaboration to overcome challenges.
As the 2025 fiscal year approaches, Tinubu’s ambitious budget offers a vision of stability and prosperity, but its success will depend on implementation and continued public support.
