Tinubu Presents ₦49.7tn 2025 Restoration Budget to National Assembly
President Bola Ahmed Tinubu on Wednesday presented the 2025 budget proposal of ₦49.7 trillion to a joint session of the National Assembly, describing it as a plan to restore macroeconomic stability, foster peace, and build national prosperity.
The budget, titled “Restoration Budget: Securing Peace and Building Prosperity,” aims to address critical economic challenges and set the nation on a path of sustainable growth. Tinubu praised Nigerians for their resilience in the face of tough economic realities, highlighting progress made in 2024, including a GDP growth rate of 3.46%, surpassing earlier projections of 3.2%.
Tinubu projected a decline in inflation from 34.6% to 15% and a strengthening of the naira, with the exchange rate expected to improve from ₦1,700 per dollar to ₦1,500. He emphasized efforts to reduce petroleum product imports, increase finished product exports, enhance food production through improved security, and attract foreign portfolio investments.
In laying out the expenditure plan, Tinubu revealed significant allocations to key sectors. Defence and security will receive ₦4.91 trillion, housing ₦4.06 trillion, health ₦2.48 trillion, and education ₦3.58 trillion. These investments, he said, reflect the administration’s priorities to improve the quality of life for Nigerians.
The president reaffirmed his commitment to tackling the nation’s economic challenges head-on, declaring that the time for lamentation is over. He called on all stakeholders to join hands in executing the budget’s ambitious goals, stating, “The time to act is now.”
As the budget was laid before the National Assembly, Tinubu’s address set the tone for legislative deliberations and the next phase of Nigeria’s economic recovery.
