Tinubu presents 2025 budget, makes Security, infrastructure, education, health top priority 

By Attah Ede 

President Bola Ahmed Tinubu on Wednesday presented a budget of N47.96 trillion to a joint session of the National Assembly with defence and security taking the major share of N4.91 trillion.

This is followed by infrastructure, which has N4.06 trillion, education N3.52 trillion and health N2.48 trillion.

Tinubu arrives N/Assembly to present N47.96trn 2025 budget

The President who didn’t mention the allocations to other sectors however, said, the 2025 budget is “Budget of Restoration: Securing Peace, Rebuilding Prosperity, adding that it would stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.

He maintained that the economy is already responding positively to the policy of his administration, stating  that Nigerians would soon experience a better and more functional economy going by the positive indicators in the aspects of global economic growth and foreign reserve.

“The global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.

“Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.

“Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.

“Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.

“These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.”

Tinubu said the goals of advancing national security, creating economic opportunities, investing in the youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget.

“But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory”,

“We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.

“The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.

“Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending” Tinubu stated.

Earlier in his address,  President of the  Nigeria Senate, Godswill Akpabio reaffirmed the National Assembly commitment towards backing any initiative aimed at positively transforming the nation. 

Speaking before the budget was laid before the joint session , Senator Akpabio enumerated the importance of the four tax reform bills, describing them as a monumental shift in revenue generation for the country.

He, however, expressed concern that critics who have neither seen nor read the bills are the ones raising the most objections. 

He further assured that the National Assembly would consider the views of Nigerians, thoroughly review the proposals, and ensure the bills align with the aspirations of the people. 

Akpabio called on President Tinubu to direct ministers and heads of agencies to personally defend their budget estimates before the parliament.

The speaker of the House of Representatives, Tajudeen Abbas, thanked President Tinubu for his prompt response to the presentation of the budget at the joint session of the national assembly.

He assured that the lawmakers would do the needful and give speedy consideration to the budget to  ensure its timely passage into law.