President Bola Tinubu has presented the 2025 Appropriation Bill of N47.9 trillion before a joint session of the National Assembly with defence and insecurity, infrastructure, health and education being some of the sectors with the highest allocations.

Tinubu, who tagged the 2025 budget: “The resurrection budget,” expressed his commitment to economic renewal, while thanking all Nigerians for embarking on the journey of reform and transformation in the last 18 months.

He stated that the budget underscores a renewed commitment to stabilizing the economy, addressing insecurity and improving the quality of life for Nigerians, adding that the 2025 budget as a continuation of his administration’s renewed hope agenda. 

The president added that the economy which grew by 3.46 percent in Q3 2024, has shown resilience amidst global uncertainties, revealing that his administration aims to reduce inflation from 34.6 percent to 15 percent and improve the exchange rate to ₦1,500/$1, signaling a bold strategy to restore macroeconomic stability.

The president attributed the economic growth to reforms such as improved revenue collection and targeted fiscal stimulus. These measures, coupled with a projected crude oil production of 2.06 million barrels per day, aim to enhance Nigeria’s economic competitiveness and diversify income streams.

The President said the economy is responding to stimulus and that his government would continue to take the right steps for economic progress.

He listed some of the highlights of the budget as defence and security – N4.91trillion, infrastructure – N4.06trillion, health – N2.4trillion and education – N3.5trillion, among others.