President Bola Tinubu has presented a budget of 49.7 trillion naira to a joint Session of the National Assembly for the 2025 fiscal year dubbed “Restoration Budget: Securing Peace, Rebuilding Prosperity”. 

President Tinubu said his administration projects to raise 34.82 trillion naira to fund the budget, with 15.81 trillion naira billed to go for debt servicing, while 13.08 trillion naira will make up the budget deficit.

The President noted that Defence and Security will get N4.91 trillion, N2.48 trillion go for health and Infrastructural development will gulp N4.06 trillion. 

Tinubu added that the 2025 budget deficit will be financed mainly by new borrowings.

Our correspondent, Raliat Adenekan reports that the Budget forecasts that inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from 1,700 naira per U.S. dollar to 1,500 naira and crude oil production is put at 2.06 million barrels per day.   

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