President Bola Ahmed Tinubu on Wednesday presented the proposed 2025 budget to the National Assembly, emphasizing security, infrastructure development, and economic growth.
This marks his administration’s second full budget since assuming office in May 2023.
The budget, titled ‘Restoration Budget: Security, Peace, and Building Prosperity,’ was approved by the Federal Executive Council on Tuesday.
It projects revenue of N34.8 trillion against a total expenditure of N47.9 trillion, leaving a deficit of N13 trillion—equivalent to 3.89% of Nigeria’s Gross Domestic Product.
A significant portion of the budget, N15.81 trillion, is allocated to debt servicing, underscoring Nigeria’s fiscal challenges.
The spending plan is anchored on key economic assumptions, including a crude oil benchmark price of $75 per barrel, a daily production target of 2.06 million barrels, and an exchange rate of N1,500 to the dollar.
The defence and security sector receives the highest allocation, with N4.91 trillion aimed at strengthening national safety and stability. Infrastructure development is allocated N4.06 trillion, while the education and healthcare sectors are assigned N3.5 trillion and N2.48 trillion, respectively.
Notable increases are evident compared to the 2024 budget. Education funding has more than tripled, rising from N1.08 trillion to N3.5 trillion. Defence and security allocation increased significantly from N3.25 trillion to N4.91 trillion.
Healthcare funding more than doubled, growing from N1.08 trillion to N2.48 trillion. Infrastructure spending saw the most substantial rise, soaring from N1.32 trillion in 2024 to N4.06 trillion in 2025.
