President Tinubu Presents N47.9trn 2025 Budget To NASS

—Targets N34.82 trillion Revenue For Funding

By Angel Ike

President Bola Tinubu on Wednesday presented N47.9 trillion for the 2025 budget to the joint session of the National Assembly.

The 2025 Budget, according to him, seeks to:
restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction, promote equitable income distribution and human capital development.

Tinubu noted that the budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.

The highlights of the 2025 Budget Allocations shows that Defence and Security.got the highest allocation of N4.91 trillion, followed by Infrastructure which was allocated N4.06 trillion. N2.48 trillion was allocated to health and Education: N3.52 trillion.

The President said that the 2025 budget is targeting N34.82 trillion in revenue to fund it

He disclosed that Government expenditure is projected at 47.90 trillion naira, including N15.81 trillion for debt servicing, adding that a total of N13.08 trillion, or 3.89 percent of GDP, will make up the budget deficit.

He said the budget targets to reduce inflation from 34.6 percent to 15 percent next year.while the exchange rate will improve from approximately N1,700 per US dollar to N1,500 and a base crude oil production assumption of 2.06 million barrels per day.

He said, “These projections are based on the following observations:

“Reduced importation of petroleum products alongside increased export of finished petroleum products.

“Bumper harvests, driven by enhanced security, reducing reliance on food imports.

“Increased foreign exchange inflows through Foreign Portfolio Investments.

“Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.”