Tinubu Presents Nigeria’s N47.9 Trillion 2025 Budget, Says Inflation Will Be More Than Halved to 15%

President Bola Tinubu has presented Nigeria’s N47.9 trillion 2025 “Budget of Restoration: Securing Peace and Rebuilding Prosperity” to the National Assembly, emphasising that the nation’s future is a collective responsibility.

While delivering the proposed budget for 2025 on Wednesday, Tinubu called for a unified effort to “rewrite Nigeria’s narrative together,” urging that the responsibility to change the country’s trajectory lies with the government, institutions, private enterprises, and citizens.

“This is not a solitary fight but a collective endeavour to restore Nigeria’s greatness,” the president stated.

The proposed budget prioritises defence, infrastructure, health, and education, with key allocations aimed at securing the nation’s future.

The government has set a fiscal deficit target of 3.89 percent of Gross Domestic Product (GDP), equating to N13 trillion, which exceeds the 3 percent threshold stipulated by the Fiscal Responsibility Act. To finance this, the federal government plans to boost revenue through enhanced tax collection, expanded tax bases, and better efficiency in customs duties. The crude oil benchmark is set at $75 per barrel, with a production target of 2.06 million barrels per day, and an exchange rate of N1,500 per dollar.

Defence takes a central position in the budget with an allocation of N4.91 trillion, representing 10 percent of the total budget. This allocation marks a 27.5 percent increase from the previous year’s N3.85 trillion. The funds are aimed at acquiring modern military hardware, improving surveillance technology, and boosting personnel welfare to enhance operational efficiency. “This budget provides the resources and direction needed to not just defend, but restore; to not just fight, but to finish,” Tinubu said.

The healthcare sector will receive N2.48 trillion, a 50 percent increase from the 2024 allocation of N1.48 trillion. This fund will cover infrastructure, basic healthcare, and human capital investments. Tinubu highlighted that the government is committed to ensuring that Nigerians remain healthy and productive, adding, “Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians.”

Education has been prioritised with N3.52 trillion allocated, a 49.15 percent increase from the previous year. This funding will cover personal, overhead, and capital expenditures, with N825 billion allocated for educational infrastructure. “Education is the key to a prosperous tomorrow,” Tinubu said, stressing the importance of education in shaping the nation’s future.

Infrastructure is allocated N4.06 trillion, 8.48 percent of the total budget, reflecting the government’s commitment to revitalising the sector. “These are not just projects on paper; they are pathways to jobs, trade, and opportunities for every Nigerian to contribute and benefit from growth,” the president remarked.

The federal government has also projected a 15 percent inflation rate for 2025, down from 34.6 percent in 2024. The government expects to achieve this through enhanced security measures, increased oil output, domestic production of refined petroleum, and improved macroeconomic stability.

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