President Tinubu presented the budget to the Joint Session of the 10th National Assembly on Wednesday, December 18, 2024, before travelling to Lagos for Christmas.
President Bola Tinubu presented the 2025 National Budget, which he describes as the “2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity,” to the Joint Session of the National Assembly.
Tinubu says the budget “reflects” his administration’s “unshakable commitment to stabilizing our economy, improving lives, and paving the way for a brighter future for every Nigerian.”
Nigeria has been plagued by insecurity, especially in the northwestern part of the country, where a new terrorist organization, the Lakurawa, has emerged.
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Defense and Security got the largest allocation of ₦4.91 trillion, while ₦4.06 trillion was earmarked for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health in the ₦49.7 trillion total budget.
President Tinubu said the “time for lamentation is over” and noted that it is “time to act,” as citizens grapple with the worst inflation rate in the country’s history.
He urged Nigerians to “look hopefully towards a brighter future because a new day has dawned for us as a nation.”
“Together, we have embarked on a journey of transformation and reform, and while the road has not been easy, the progress we’ve made is undeniable.”
Critics have questioned the need for more spending on infrastructure while critical sectors such as health and education get lesser allocation.