President Bola Ahmed Tinubu has presented the 2025 Budget of Restoration, a ₦47.90 trillion blueprint designed to stabilize Nigeria’s economy, promote inclusive growth, and enhance essential sectors. Discover the 10 key takeaways that will shape Nigeria’s future.
On Wednesday, President Bola Ahmed Tinubu presented the 2025 Appropriation Bill to a joint session of the National Assembly, outlining his administration’s financial blueprint under the theme “Budget of Restoration: Securing Peace, Rebuilding Prosperity.” The ₦47.90 trillion proposal is a bold step aimed at stabilizing the Nigerian economy, fostering equitable growth, and enhancing living standards under the Renewed Hope Agenda.
Key Takeaways from Tinubu’s 2025 Budget
Theme of the Budget
Titled “Budget of Restoration,” the proposal is focused on stabilizing the economy, rebuilding prosperity, and addressing critical national issues such as insecurity and economic inequality.
Revenue and Expenditure Projections
The budget anticipates ₦34.82 trillion in revenue against ₦47.90 trillion in expenditures, resulting in a ₦13.08 trillion deficit, representing 3.89% of GDP.
Economic Recovery Indicators
President Tinubu highlighted signs of economic recovery, including a Q3 2024 growth rate of 3.46%, a trade surplus of ₦5.8 trillion, and foreign reserves of $42 billion.
Inflation and Exchange Rate Goals
Inflation is expected to drop significantly from 34.6% to 15% by 2025, while the naira-dollar exchange rate is projected to strengthen from ₦1,700 to ₦1,500 per US dollar.
Sectoral Allocations
Defense and Security: ₦4.91 trillion
Infrastructure: ₦4.06 trillion
Education: ₦3.52 trillion
Health: ₦2.48 trillion
Agriculture Revitalization
The government plans to support farmers with funding and resources, boosting production to reduce hunger and reliance on food imports, ensuring food security.
Human Capital Investment
The budget allocates ₦826.90 billion to expand education infrastructure, including funding for nine new higher institutions. Healthcare infrastructure will receive ₦402 billion, with ₦282.65 billion dedicated to the Basic Health Care Fund.
Infrastructure Development
The Renewed Hope Infrastructure Development Fund will drive key projects such as the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, enhancing connectivity and economic activity.
Macroeconomic Stability and Inclusive Growth
The fiscal philosophy emphasizes improving the business climate, restoring macroeconomic stability, and ensuring wealth distribution aligns with the Renewed Hope Agenda’s principles.
Call for National Unity
President Tinubu urged all Nigerians, including leaders and institutions, to unite against corruption, insecurity, and economic challenges, emphasizing the importance of collaboration for national prosperity.
Driving Change Through Collaboration
President Tinubu’s “Budget of Restoration” is a comprehensive approach aimed at reviving the Nigerian economy, tackling security challenges, and laying a strong foundation for sustainable growth. By prioritizing defense, education, healthcare, and infrastructure, the administration aims to deliver a more equitable and prosperous Nigeria.
