President Bola Tinubu on Wednesday presented a N47.96 trillion national budget for 2025 to a joint session of the National Assembly, emphasizing its potential to trigger prosperity if implemented effectively. The President described the budget as a consolidation of key federal policies aimed at advancing infrastructure, security, and economic growth.
Addressing legislators, Tinubu highlighted Nigeria’s resilience amidst economic challenges, expressing confidence that the budget would leverage the “unstoppable Nigerian spirit” to rebuild the economy and strengthen national unity. He affirmed that under his administration, the country has made significant strides in infrastructure and security, which have laid the groundwork for further progress.
“The improvements we witnessed in the 2024 budget have led us into the 2025 budget,” Tinubu said. “The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and re-orientation form the core of the 2025 budget.”
Citing recent economic achievements, Tinubu noted that the economy grew by 3.46% in the third quarter of 2024, up from 2.54% in the same period the previous year. He also disclosed that Nigeria’s foreign reserves now stand at nearly $42 billion, providing a buffer against external shocks, while a trade surplus of N5.8 trillion reflects growing export performance, according to the National Bureau of Statistics.
Legislators are set to commence sectoral debates on the budget immediately, barring any last-minute changes. Observers see this budget as pivotal to sustaining the momentum of economic recovery and positioning Nigeria for long-term growth.
