President Tinubu's 2025 budget prioritizes key sectors like Defence, Infrastructure, Education, and Health, aiming to address critical challenges facing the Nigerian economy.
President Bola Ahmed Tinubu has presented a N49.7 trillion budget proposal for the 2025 fiscal year to the National Assembly. The proposed expenditure is higher than the N30.94 trillion budget for 2024. A significant portion of the budget is allocated to key sectors such as Defence & Security (N4.91 trillion), Infrastructure (N4.06 trillion), Education (N3.52 trillion), and Health (N2.48 trillion). The President's key assumptions for the budget include a GDP growth of 4.
6 percent, inflation reducing to 15.75 percent, an exchange rate of N1,500 per dollar, oil production at 2.06 million barrels per day, and a crude oil price of $70 per barrel. The 2025 budget also proposes a revenue target of N36.36 trillion and a budget deficit of N13.39 trillion. Economists and financial analysts have reacted to the budget proposal, highlighting both its strengths and weaknesses. Muda Yusuf, the Chief Executive of the Centre for the Promotion of Private Enterprise, and Prof Godwin Oyedokun, a lecturer at Lead City University in Ibadan, spoke to DAILY POST in separate exclusive interviews. Yusuf commended the budget's prioritization of Defence & Security, Infrastructure, Health, and Education, stating that these allocations reflect a commitment to tackling critical challenges hindering the economy
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