President Bola Tinubu on Wednesday presented a national budget of N47.96 trillion for 2025 to the joint session of the National Assembly.
The President said the budget, which he said was put together based on economic realities, would trigger prosperity in Nigeria in 2025 if implemented to the letter.
According to him, the budget would consolidate key policies of the Federal Government.
Tinubu said Nigerians have shown resilience in the face of economic challenges, hence, he believed that the 2025 budget would leverage that spirit to drive economic growth.
He emphasised that the country under his watch has recorded improvements in infrastructure and security.
“We do not intend to depart from the critical path to strengthen the economy. Just as I believe in the resilience of our economy to withstand the current challenges.
“I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.
“The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development and re-orientation form the core of the 2025 budget.”
Tinubu noted that the economic stimulus of the nation worked in 2024, as the economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
He further highlighted the growth in the economy by asserting that Nigeria’s foreign reserve has hit nearly $42 billion, providing buffer against external shocks.
“Our rising exports are reflecting the current trade surplus, which now stands at N5.8 trillion, according to National Bureau of Statistics,” he added.
Sector debate on the budget by legislators in both chambers of the National Assembly is expected to commence immediately, baring any last minute change in plans.
