President Bola Tinubu on Wednesday presented a national budget of N47.96 trillion for 2025 to the joint session of the National Assembly.
The President said the budget, which he said was put together based on economic realities, would trigger prosperity in Nigeria in 2025 if implemented to the letter.
The budget, titled “2025 Budget of Restoration,” prioritises critical sectors, with allocations as follows: Defence and Security: N4.91 trillion; Infrastructure: N4.06 trillion; Health: N2.48 trillion and Education: N3.52 trillion.
Tinubu emphasised the importance of securing the nation, stating that increased funding for the armed forces, paramilitary, and police was essential to combat insecurity and restore public confidence.
“Insecurity undermines productivity and prosperity. Our administration is committed to ensuring Nigerians live without fear in their homes, farms, and cities,” he said.
Tinubu highlighted the administration’s commitment to infrastructure development, particularly through the Renewed Hope Infrastructure Development Fund.
He noted ongoing projects, such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Highway, designed to drive economic growth and create jobs.
According to him, the budget would consolidate on key polices of the Federal Government.
Tinubu said Nigerians have shown resilience the face of economic challenges, hence, he believed that the 2025 budget would leverage on that spirit to drive economic growth.
He emphasised that the the country under his watch has recorded improvements in infrastructure and security.
“We do not intend to depart from the critical path to strengthen the 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 re-orientation form the core of the 2025 budget.”
Tinubu noted that the economic stimulus of the nation worked in 2024, as the economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
He further highlighted the growth in the economy by asserting that Nigeria’s foreign reserve has hit nearly $42 billion, providing buffer against external shocks.
“Our rising exports are reflecting the current trade surplus, which now stands at N5.8 trillion, according to National Bureau of Statistics,” he added.
On human capital development, the President announced provisions for education and healthcare, saying over N826.90 billion has been allocated to educational infrastructure, including funding for Universal Basic Education (UBEC) and nine new higher institutions.
In the health sector, N402 billion has been earmarked for infrastructure investment, alongside N282.65 billion for the Basic Healthcare Fund.
“Our people are our greatest resource,” Tinubu declared. “We are making record investments to ensure quality education and healthcare services for every Nigerian.”
The budget also prioritises food security, with measures to support farmers and boost agricultural productivity.
Tinubu acknowledged the challenges posed by insecurity but expressed optimism about reviving the sector to eliminate hunger and ensure adequate food supply for Nigerians.
Tinubu urged Nigerians to embrace collective responsibility in addressing the nation’s challenges, calling on public and private sectors to align efforts to achieve the administration’s vision for a prosperous Nigeria.
“This is not just a statement of government revenue and expenditures,” he said. “It is a call to action—a call to rewrite our nation’s narrative and secure a brighter future for all.”
