President Bola Tinubu on Wednesday presented the N47.9 trillion 2025 budget proposal before the joint session of the National Assembly.

Here are the highlights of the budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity” :

▪︎ The sum of N4.91 trillion for the defence and security sector in the fiscal year

▪︎The Defence and Security is closely followed by infrastructure with the sum of N4.06 trillion proposed

▪︎The sum of N2.48 trillion is allocated for the Health sector

▪︎The sum of N3.52 trillion was earmarked for the Education sector.

President Tinubu noted that the budget strikes at the very core of his Renewed Hope Agenda and demonstrated his government’s commitment to stabilising the economy, improving lives, and repositioning the country for greater performance.

The President added that the 2025 budget proposal again reinforces his administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation.

He explained that the journey of economic renewal and institutional development, which commenced 18 months ago as a nation, was very much underway.

Tinubu noted that while it wasn’t a journey the country chose, his government had to embark on it for Nigeria to have a real chance at greatness.

He said: “The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy.

That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith in the process to arrive at our collectively desired destination.

“We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.”

The President assured that the 2025 budget will boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get manufacturing sector humming again and ultimately increase the competitiveness of our economy.

Tinubu stressed that his government does not intend to depart from this critical path to strengthen the Nigerian economy, saying just as he believes in the resilience of the economy to withstand the current challenges.

He emphasised that the objective of his government was to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.

The President said the reforms his government instituted are beginning to yield results, adding that Nigerians would soon experience a better and more functional economy.