The Presidency has declared that President Bola Ahmed Tinubu’s 2025 budget is designed to fight poverty and improve the lives of Nigerians.

The budget was presented to the National Assembly on Wednesday by the President.

According to Daniel Bwala, the President’s Special Adviser on Policy Communication, the 2025 budget sets ambitious targets for revenue generation, government spending, and poverty reduction.

He wrote:

The 2025 budget by @officialABAT is designed to address poverty; here is the breakdown of the budget

Budget Overview

– Revenue Target: 34.82 trillion naira

– Government Expenditure: 47.90 trillion naira (including 15.81 trillion naira for debt servicing)

– Budget Deficit: 13.08 trillion naira (3.89% of GDP)

Key Priorities and Allocations

– Defence and Security: 4.91 trillion naira

– Infrastructure: 4.06 trillion naira

– Health: 2.48 trillion naira

– Education: 3.52 trillion naira

Economic Projections

– Inflation Rate: Expected to decline from 34.6% to 15% in 2025.

– Exchange Rate: Expected to improve from approximately 1,700 naira per US dollar to 1,500 naira

– Crude Oil Production: Assumed to be 2.06 million barrels per day (mbpd)

Revitalizing Agriculture:

Increasing agricultural production is central to our food security agenda, but insecurity has crippled this vital sector. We are supporting our farmers with funding and inputs to reignite productivity. Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently, and none of our citizens will have to go to bed hungry.

Developmental Objectives

– Restore macroeconomic stability

– Enhance the business environment

– Foster inclusive growth, employment, and poverty reduction

– Promote equitable income distribution and human capital development

The Renewed Hope is truly here. Here we come, 2025!