Tinubu presents N47.9tn 2025 ‘Restoration Budget’

Tinubu presents N47.9tn 2025 ‘Restoration Budget’

By Fly Cable News

in the N47.9tn Budget Proposal presented by

President Bola Tinubu on Wednesday presents N47.9tn Budget Proposal before a joint session of the National Assembly.

The 2025 Budget titled, ‘The Restoration Budget’ Security and defence, infrastructure, health and education were some of the sectors with high allocations

In his presentation, the President listed some of the highlights of the budget as defence and security – N4.91tn, infrastructure – N4.06tn, health – N2.4tn, education – N3.5tn, among others. “The 2025 budget seeks to restore macro-economic stability enhance the business environment, foster inclusive growth, employment and poverty reduction, promote equitable income distribution and human capital development,” Tinubu said. “In 2025, we are targeting N34.8tn in revenue to fund the budget. government expenditure in the same year is projected to be N47.90tn including N15.81tn for debt servicing.

“A total of N13.0tn or 3.89% of GDP will make up the budget deficit. This is an ambitious but necessary budget to secure our future. “The budget projects inflation will decline from the current rate of 34.6% to 15% next year (2025) while the exchange rate will improve from approximately N1,700 per dollar to N1,500 per dollar.” Tinubu’s 2025 N47.9tn budget proposal was about N20tn higher than that of 2024. In December 2023, Tinubu presented the 2024 budget proposal of N27.5tn, his first, before the National Assembly.

The Senate increased the bill by N1.2tn and approved N28.7tn for the 2024 Budget.