The federal government has declared that the N13 trillion deficit in the N48 trillion 2025 budget proposal will be financed through borrowing.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, made this known on Monday while addressing newsmen after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the State House, Abuja.
He outlined the government’s financial plans for the coming year, revealing that the projected revenue for 2025 is estimated at N34.82 trillion, while total expenditure is pegged at N47.96 trillion.
This represents a 36.8% increase from the 2024 budget and leaves a deficit of N13.14 trillion, equivalent to 3.89% of Nigeria’s Gross Domestic Product (GDP).
Edun emphasized that the 2025 budget reflects the administration’s progress over the past 18 months, focusing on fiscal sustainability and economic growth.
He stressed the importance of balancing revenue, expenditure, and borrowing to create a conducive environment for economic expansion.
“Like governments around the world, we are concerned about achieving fiscal sustainability. It is about creating a balance between revenue, expenditure, and borrowing to foster an economy that can grow sustainably,” Edun said.
