President Tinubu Unveils Record N47.9 Trillion 2025 Budget, Promises Economic Reforms

Oru Leonard 

President Bola Ahmed Tinubu has unveiled a whopping N47.9 trillion budget proposal for 2025, tagged “The Budget of Restoration: Securing Peace, Rebuilding Prosperity”. This ambitious plan is designed to restore peace, prosperity, and economic stability in Nigeria.

Key Highlights of the Budget

* Total Expenditure: N47.9 trillion

* Revenue Target: N34.82 trillion.

* Debt Servicing: N15.81 trillion (a significant portion of the budget).

* Projected Deficit: N13.08 trillion (representing 3.89% of the nation’s GDP).

Sectoral Allocations

* Defence and Security: N4.91 trillion.

* Infrastructure: N4.06 trillion.

* Education: N3.52 trillion.

* Health: N2.48 trillion.

Economic Forecasts

*Inflation: Expected to decline from 34.6% to 15%.

* Exchange Rate: Projected to improve to N1,500/$1

* Crude Oil Production: Targeted to reach 2.06 million barrels per day.

Priorities

* Security: Modernizing the military and police to combat insurgency and ensure nationwide peace

* Infrastructure Development: Investing in transport, energy, and public works, including flagship projects like the Lagos-Calabar Coastal Highway.

* Human Capital Development: Record funding for education and healthcare

* Agriculture: Boosting food security by supporting farmers and addressing insecurity in farming regions</span;>

President Tinubu acknowledged the challenges posed by his administration’s reforms but emphasized that these measures are essential for long-term economic recovery. He urged Nigerians to remain steadfast, assuring them that the sacrifices will not be in vain.

Cover Photo Credit: TVC