President Bola Tinubu has presented the 2025 budget proposal, tagged ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity’.
The proposed budget focuses on economic revitalisation, enhanced national security, and robust investment in human capital development.
The budget allocates significant funds to key sectors, with Defence and Security receiving N4.91 trillion, aimed at securing the nation, protecting its borders, and consolidating government control. Infrastructure Development will receive N4.06 trillion, focusing on projects like the Lagos-Calabar Coastal Highway and the Soketo-Badagry Highway to drive economic growth.
The Education sector will receive N3.52 trillion, with 826.90 billion naira earmarked for infrastructure development. The Health sector will receive N2.48 trillion, with 402 billion naira invested in healthcare services.
According to President Tinubu, the budget aims to generate revenue of 34.82 trillion naira, with total government expenditure set at 47.90 trillion naira. The budget also projects a 15% inflation rate and an exchange rate of 1,500 naira per US dollar.
The President emphasized the importance of security, stating that “security is the foundation of all progress.”
He also highlighted the need for investments in education and healthcare, saying “our people are our greatest resource”.
Key Features of the 2025 Budget Allocations:
– Defence and Security: N4.91 trillion.
– Infrastructure: N4.06 trillion.
– Health: N2.48 trillion.
– Education: N3.52 trillion.
