Defence, Infrastructure, Education, and Health Get Higher Allocations
President Bola Tinubu on Wednesday presented the 2025 budget proposal totaling N47.9 trillion to a joint session of the National Assembly. Titled the “Budget of Restoration: Securing Peace, Building Prosperity”, the financial plan prioritizes security, infrastructure, education, and healthcare.
The budget is built on the following economic parameters:
- Oil price benchmark: $75 per barrel
- Domestic crude oil production: 2.06 million barrels per day
- GDP growth rate: 4.6%
- Exchange rate: N1,400/$
- Inflation rate: 15.75%
Key Allocations
President Tinubu emphasized that the budget allocations reflect his administration’s commitment to addressing critical national priorities:
- Defence and Security: N4.91 trillion
- Infrastructure Development: N4.06 trillion
- Education: N3.5 trillion
- Healthcare: N2.4 trillion
Tinubu’s Call for Unity
During his speech, Tinubu urged lawmakers and Nigerians to collaborate in overcoming the nation’s challenges, emphasizing action over complaints:
“Our nation faces challenges… they are surmountable when we work collectively. The time for lamentations is over; the time to act is now,” he stated.
The budget, he explained, is designed to consolidate the federal government’s key policies aimed at restructuring and boosting Nigeria’s economy.
Next Steps
The presentation marks the beginning of deliberations on the proposed budget, with detailed breakdowns and debates expected in the coming weeks.
Details later…
