President Bola Tinubu has presented a N47.9 trillion budget proposal for 2025 to a joint session of the National Assembly. Dubbed “The Budget of Restoration,” the proposal prioritises sectors such as security, infrastructure, health, and education, with allocations of N4.91 trillion, N4.06 trillion, N2.4 trillion, and N3.5 trillion respectively.
The 2025 budget is about N20 trillion higher than the N27.5 trillion budget proposal for 2024, which the Senate later raised to N28.7 trillion. Tinubu attributed the increased budget size to intensified efforts to boost national security, economic stability, and social welfare.
“The 2025 budget, which again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget, christened Budget of Restoration, Securing Peace, Building Prosperity, strikes at the very core of our renewable energy agenda and demonstrates our commitment to stabilizing the economy, improving the lives, and repositioning our country for greater performance.”
Also Read: Federal Executive Council Approves N47.9 Trillion Budget for 2025
The President set a crude oil production target of 2.06 million barrels per day for 2025, projecting reduced imports of refined petroleum products and increased exports. He assured Nigerians that economic reforms are yielding positive results and promised continued implementation of growth-oriented policies.
“The journey of economic renewal and institutional development, which we began 18 months ago, and I emphasize just 18 months ago, as a nation is very much underway. It is not a journey of our choosing, but what we have to embark on for Nigeria to have a real chance at greatness. And I thank every Nigerian for embarking on this journey of reform and transformation with us.The road of reform is now clearly upon us, and as the president of this blessed nation, I know this less-traveled road has not been easy, that there have been difficulties and sacrifices.”
Tinubu thanked Nigerians for supporting his administration’s reform agenda over the past 18 months. He reaffirmed his commitment to pursuing economic renewal.
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