Tinubu Presents N49.70tn “Budget Of Restoration” For 2025 To National Assembly

The Nigerian president, HE Bola Ahmed Tinubu, presented a 2025 budget totaling N49.70tn to the National Assembly, focusing on defense, infrastructure, and human capital development.
 
The “Budget of Restoration” allocates N4.91tn to defense and security and N4.06tn to infrastructure projects, including the Lagos-Calabar Coastal Highway. 
 
Education and health sectors have been allocated N3.52tn and N2.48tn, respectively. There is a projected revenue of N34.82tn in the budget; it also features a N13.39tn deficit, which will be financed with borrowing.
 
There are key assumptions that are included in the budget too, such as reducing inflation to 15% and ensuring that the naira exchange rate improves to N1,500/$1. 
 
 The president also made space for economic development, rising foreign reserves of $42bn, and a trade surplus that will amount to N5.8tn, promising to reform stability, private sector support, and food security.
 
The budget will have to be worked upon by the National Assembly before they assent to their approval.