PRESIDENT Bola Tinubu, on Friday, said the federal government revenue has increased to N21.63 trillion, while reducing budget deficit to 4.127%, from 6.2%, in 2023.
The President, who stated this while signing the N54.99trillion 2025 budget into law, at the Presidential Villa, Abuja, said his administration achieved the results through strong fiscal discipline.
He noted that the 2025 budget, will ensure transformation, empowerment of the people and building a resilient future, for Nigerians.
“We affirm our commitment to securing the future, rebuilding prosperity and ensuring that every Nigerian shares in the dividends of governance,” he said.
“The past year tested our resolve, but through the economic discipline and strategic reforms, we achieved what many deemed impossible.
“There are no dust in our faces and there are no tears in our chicks. We worked together as brothers and sisters, collaborative Nigerians after the initial turbulence, and the take-off was very cloudy, and uncertain. Today, we see a light at the end of the tunnel.”
While also noting the signs of progress, the president said the nation’s Gross Domestic Product GDP rebounded to 3.86 percent, while revenue increased to N21.63trillion.
Tinubu also harped on the naira’s rebound, adding that this is a reflection of nation’s resilience.
“We have reduced the deficit significantly from 6.2 in 2023 to 4.217 percent,” he said.
“Forex reform is working in the foreign exchange market. The minimum wage was raised and we are meeting all obligations.
The President thanked the National Assembly and everyone who participated in the smooth passage of the appropriation bill into law.
” We are building the same country. But particularly the leadership, we have seen the collaboration between democracy of this government and executive and legislative making a difference, determined to move our country forward,” he said.
“Today I can smile that you have given the hope to our people. We can only promise to work harder. I thank you very much”.