President Bola Tinubu has signed the 2025 Budget of Restoration into law, reaffirming his administration’s commitment to economic recovery, stability, and growth. The N54.99 trillion budget is based on projected revenues and aims to secure the nation’s future, rebuild prosperity, and ensure that every Nigerian shares in the dividends of governance.

The Special Adviser to the President, Bayo Onanuga, said in a statement that President Tinubu thanked the leadership and members of the National Assembly for their collaboration in giving the appropriation bill speedy attention and passage. “We have no dust on our faces or tears in our eyes. We walked together as brothers and sisters. Though the initial outlook was turbulent, we can now see signs of progress,” President Tinubu stated.

President Tinubu noted that the uncertainty over the economy was gradually clearing as the reforms took shape, delivering a national GDP growth of 3.86% in the last quarter of 2024, the fastest in three years. He highlighted several key achievements, including increased revenue, reduced deficit, and restored investor confidence.

The President emphasized that the budget prioritizes National Security, Infrastructure and energy, Human Capital Development, healthcare, education, and skills development. He also assured that the increased allocation for agriculture and food security will boost local food production and ensure that no Nigerian goes hungry.

Onanuga stated that President Tinubu urged the legislators to extend the same support for implementing the budget, emphasizing that every government agency would be held accountable for prudent spending and value-for-money initiatives. “To ensure smooth budget implementation, we will work with the National Assembly to redefine corrigenda within the Appropriations Act,” President Tinubu added.

The President of the Senate, Godswill Akpabio, assured President Tinubu of the full support of the National Assembly in implementing the budget. Akpabio noted that the President inherited a “foaming economy” that needed urgent economic measures to recover. The Senate President affirmed that President Tinubu’s experience from Lagos and versatility in managing men and resources enabled the economy’s ongoing reforms and turnaround.

Onanuga stated that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the passing of the budget had been a collaborative effort based on consultation, negotiation, and analysis. “The National Assembly has all along been partners in progress with you, Mr President,” Edun added.

Bayo Onanuga concluded by stating that President Tinubu’s administration remains committed to economic recovery, stability, and growth, and that the 2025 Budget of Restoration is a significant step towards achieving this goal.