President Bola Ahmed Tinubu presented the 2025 Budget to the Joint Session of the 10th National Assembly, emphasizing its focus on restoring peace, rebuilding prosperity, and fostering economic stability. Titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity,” the budget reflects Tinubu’s Renewed Hope Agenda, which aims to restructure Nigeria’s economy, enhance infrastructure, and improve the quality of life for citizens.

The President acknowledged the challenges faced during the past 18 months of reforms, emphasizing the resilience of the Nigerian people and their collective sacrifices. The budget projects a total revenue target of ₦34.82 trillion against an expenditure of ₦47.90 trillion, with a projected deficit of ₦13.08 trillion. Inflation is expected to decline from 34.6% to 15%, and the exchange rate is projected to improve to ₦1,500 per US dollar. Increased crude oil production, reduced petroleum imports, and enhanced agricultural productivity are central to these projections.

Key allocations include ₦4.91 trillion for defense and security, ₦4.06 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health. The administration also aims to revitalize agriculture, ensure food security, and expand human capital development through investments in education, healthcare, and social services.

President Tinubu highlighted significant achievements from the 2024 Budget, including 75% revenue target attainment and a 3.46% economic growth rate in Q3 2024. He urged collaboration to address existential threats like corruption and insecurity, emphasizing the importance of private sector investment and public service accountability. Tinubu expressed confidence in Nigeria’s bright future, describing the 2025 Budget as a call to action for a prosperous nation where citizens can thrive.