President Bola Ahmed Tinubu has submitted the 2025 budget, called the Appropriation Bill, to the National Assembly.
The president presented the budget to the lawmakers on Wednesday, naming it the “Budget of Restoration: Securing Peace and Building Prosperity.”
Tinubu also revealed that his government has distributed 34 billion naira through NELFUND to support 300,000 students.
President Bola Tinubu arrived at the National Assembly complex on Wednesday at exactly 12:10 pm to present the 2025 budget.
His arrival was accompanied by tight security.
Earlier, on Monday, the Federal Executive Council approved the 2025 budget proposal. This came after the Senate approved the Medium-Term Expenditure Framework for 2025–2027 on November 22.
Tinubu stated that his administration has generated 14.55 trillion naira in revenue, achieving 75 percent of the target.
He also noted that spending in the third quarter reached 21.60 trillion naira, which is 85 percent of the planned amount.
He said, “Our administration has made significant progress in carrying out the 2024 Budget. In 2024, we achieved 14.55 trillion naira in revenue, achieving 75 percent of our target by the third quarter.
“Spending reached 21.60 trillion naira in the same period, meeting 85 percent of our goal.
“Despite ongoing challenges, we have improved revenue collection and met key commitments. The positive impact on our economy is gradually becoming evident.”
The joint session was led by Senate President Godswill Akpabio and Speaker of the House of Representatives Abbas Tajudeen.
The budget focuses on infrastructure development, managing finances, and social programs, setting the government’s spending priorities for the next year.
Lawmakers will now review the budget and its allocations, especially considering the administration’s ongoing economic reforms.
President Tinubu emphasized key areas like healthcare, education, security, and infrastructure, while also addressing issues like inflation, unemployment, and the rising cost of living.
