President Bola Tinubu presented the 2025 Appropriation Bill to the National Assembly, tagging it as the “Budget of Restoration: Securing Peace, Rebuilding Prosperity”.
Cyber Reporters reports that this budget aims to consolidate the government’s efforts to restructure the economy, boost human capital development, and increase trade and investments.
Senate President Godswill Akpabio and Speaker of the House of Representatives, Abbas Tajudeen presided over the joint session on Wednesday.
The proposed budget allocates significant funds to key sectors, including defence, infrastructure, health, and education.
The government has also made significant progress in implementing the 2024 budget, achieving 75% of its revenue target and 85% of its expenditure target.
Additionally, the administration has disbursed ₦34 billion to 300,000 students through the Nigeria Education Loan Fund, NELFUND.
The 2025 budget focuses on infrastructure development, fiscal consolidation, and social investment programs, outlining the administration’s spending priorities for the upcoming year.
Lawmakers will now scrutinize the budget and its allocations, particularly in the context of the administration’s ongoing economic reforms.
President Tinubu highlighted key areas such as healthcare, education, security, and infrastructure, while addressing concerns about inflation, unemployment, and the high cost of living.
The budget proposal is a significant step towards achieving the government’s economic goals, and its passage will be closely watched in the coming weeks.
