SECURITY and defence, infrastructure, health and education were some of the sectors with high allocations in the N47.9tn Budget Proposal presented by President Bola Tinubu before a joint session of the National Assembly on Wednesday afternoon.
The President listed some of the highlights of the budget as defence and security – N4.91tn, infrastructure – N4.06tn, health – N2.4tn, education – N3.5tn, among others.
He stressed that food security is non-negotiable, adding that the government is taking steps to ensure Nigerians feed and not go to bed hungry.
Tinubu said, “Our 2025 is not just another statement of projected government revenue and expenditure; it is one that calls for action.
“Our nation faces existential threat from corruption and insecurity…These challenges are surmountable when we work collaboratively. We must re-write the narrative of this nation.
“The time for lamentation is over. The time to act is act is now.”
He said, “I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages, public expenditure, and specific non-inflationary spending. The reforms we have instituted are beginning to yield results, with no reversals.
“Nigerians will soon experience a better and more functional economy. Global economic growth for the outgoing year was 2.0 per cent.
“For 2024, it was projected at 3.2 per cent, and contrary to predictions for our country, we have made significant progress. Our economy grew by 3.46 per cent. The improvements we achieved in the 2024 budget have laid the groundwork for the 2025 budget.”
“The highlight of the 2025 budget allocations: Defense and security, N4.91tn. Infrastructure, N4.06tn. Health, N2.48tn. Education, N3.5tn.
“As we embark on implementing the 2025 budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy.
“While addressing the critical sectors essential for the growth and development, we envision to secure our nation. Security is the foundation of all progress. We have significantly increased the funding for the military, paramilitary and our police forces to secure the nation, protect our borders and consolidate government control over every inch of our national territory.”
Tinubu affirmed that the government would continue to provide security forces with the modern tools and technology they need to “keep us safe, boosting the morale of our men and women in the armed forces will remain our government’s top priority, the officers, men and women of our Armed Forces and the Nigerian police force and the shield and protectors of our nation, our administration will continue to empower them to defeat insurgency, banditry and threats to our sovereignty.”
The president was accompanied to the budget presentation by the Secretary to the Government of the Federation (SGF), George Akume; and the Chief of Staff to the President, Femi Gbajabiamila; among other top government officials.
The presentation was expected to take place on Tuesday but that was moved to Wednesday after a meeting of the Federal Executive Council (FEC) held on Monday at the Presidential Villa in Abuja.