President Bola Tinubu has presented the 2025 national budget, totaling N47.96 trillion, to the National Assembly. This budget, themed the “Budget of Restoration: Securing Peace and Rebuilding Prosperity,” aims to address key areas such as defence, infrastructure, health, and education.
In his address, President Tinubu emphasized the importance of collective effort in rewriting Nigeria’s narrative. “This is not a solitary fight but a collective endeavour to restore Nigeria’s greatness,” he stated. The budget prioritizes defence with an allocation of N4.91 trillion, representing a 27.5% increase from the previous year. This funding is intended to enhance operational efficiency through the acquisition of modern military hardware and improved surveillance technology.
The healthcare sector will receive N2.48 trillion, a significant increase from the 2024 allocation. “Our hospitals will be revitalized with medication and better resources, ensuring quality care for all Nigerians,” Tinubu assured. Education has also been prioritised, with N3.52 trillion allocated to cover personal, overhead, and capital expenditures. “Education is the key to a prosperous tomorrow,” Tinubu remarked.
Infrastructure development is another focal point, with N4.06 trillion allocated to revitalizing the sector. “These are not just projects on paper; they are pathways to jobs, trade, and opportunities for every Nigerian to contribute and benefit from growth,” the president noted.
The budget also projects a fiscal deficit of N13 trillion, equating to 3.89% of GDP, which exceeds the 3% threshold stipulated by the Fiscal Responsibility Act. To finance this, the federal government plans to boost revenue through enhanced tax collection and expanded tax bases.
President Tinubu highlighted the economic growth achieved in 2024, with the economy growing by 3.46% in the third quarter, up from 2.54% in the same period in 2023. He also noted that Nigeria’s foreign reserves have reached nearly $42 billion, providing a buffer against external shocks.
The presentation of the budget has sparked discussions among lawmakers and the public, with many expressing optimism about the proposed allocations and their potential impact on Nigeria’s development.
