Targeting inflation at 15 per cent, President Bola Ahmed Tinubu yesterday presented a N49.7 trillion budget proposal for the 2025 fiscal year before a joint session of the National Assembly in Abuja, with the defence and security sectors getting the highest allocation of N4.91trillion.
The President projects inflation, which has been soaring, to drop from 34.6 per cent to 15 per cent in the 2025 proposal. In the proposed fiscal plan, Defence and Security were closely followed by infrastructure with the sum of N4.06 trillion, while the sum of N2.48 trillion was allocated for the health sector and N3.52 trillion was budgeted for the education sector.
Tinubu, in the budget presentation held at the House of Representatives Chamber, noted that the budget christened “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of his Renewed Hope Agenda and demonstrated his government’s commitment to stabilising the economy, improving lives, and repositioning the country for greater performance.
The President added that the 2025 budget proposal again reinforces its administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation.
