By Fatima Saka
President Bola Ahmed Tinubu has unveiled the 2025 federal budget, aptly titled the “Budget of Restoration: Securing Peace, Rebuilding Prosperity.”
The President presented the N47.9 trillion proposal before the National Assembly in Abuja on Wednesday.
The budget emphasizes critical sectors, allocating:
Defence and Security: N4.91 trillion
Infrastructure: N4.06 trillion
Health: N2.48 trillion
Education: N3.52 trillion
The government projects N34.82 trillion in revenue to fund the ambitious plan, with a deficit of N13.08 trillion, representing 3.89% of GDP.
Key Objectives of the 2025 Budget
According to President Tinubu, the budget aims to:
1. Restore macroeconomic stability.
2. Enhance the business environment.
3. Foster inclusive growth, employment, and poverty reduction.
4. Promote equitable income distribution and human capital development.
Highlighting the expenditure, the President stated:
Government spending: N47.9 trillion, including N15.81 trillion for debt servicing.
Inflation: Projected to decline from 34.6% to 15%.
Exchange rate: Expected to improve from 1,700 to 1,500 naira per US dollar.
Crude oil production: Assumed at 2.06 million barrels per day (mbpd).
The President explained that these projections are based on key factors, including:
Reduced reliance on imported petroleum products due to increased local production.
Enhanced agricultural yields driven by improved security.
Greater foreign exchange inflows from Foreign Portfolio Investments.
Higher crude oil output and reduced production costs.
Sectoral Highlights:
Security:
“Security is the foundation of all progress,” Tinubu emphasized. The budget significantly increases funding for the military, paramilitary, and police to ensure national safety.
Modern tools and technology will be provided to security forces.
Efforts will focus on defeating insurgency, banditry, and other threats to sovereignty.
The government aims to restore peace, which is critical for productivity, business revival, and community rebuilding.
Infrastructure Development;
Infrastructure remains a cornerstone of economic growth. Under the Renewed Hope Infrastructure Development Fund, key projects will accelerate development:
Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway
These initiatives will leverage private capital to create jobs and drive economic output.
Human Capital Development:
Investing in people is a priority. The 2025 budget allocates record funding to education, healthcare, and social services.
Education:
N34 billion disbursed to over 300,000 students through the Nigeria Education Loan Fund (NELFUND).
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N826.9 billion allocated for infrastructure development, including provisions for Universal Basic Education (UBEC) and nine new higher institutions.
Healthcare:
N402 billion for infrastructure investments in the health sector.
N282.65 billion for the Basic Health Care Fund.
Enhanced access to medication and essential resources for public hospitals.
Agriculture:
Agriculture is central to the government’s food security agenda. To reignite productivity: Farmers will receive funding and inputs., Enhanced security will encourage agricultural activities, and the government aims to ensure no Nigerian goes to bed hungry.
Call to Action;
President Tinubu described the 2025 budget as more than just numbers. It is a call for action:
To tackle corruption, insecurity, and past policy missteps.
To foster greater private-sector investment.
To ensure civil servants faithfully implement government programs.
“The time for lamentation is over,” Tinubu declared. “This is a time to act. A time to look toward a brighter future because a new day has dawned for us as a nation.”
Conclusion
In closing, Tinubu reiterated his commitment to leading Nigeria toward a future of peace and prosperity. The 2025 budget, he said, lays the foundation for a nation where every citizen can “dream, work, and thrive in safety.”
