On Wednesday, President Bola Ahmed Tinubu presented the 2025 national budget to a joint session of the 10th National Assembly.

The appropriation bill titled the “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” the N26.87 trillion proposal is part of the administration’s commitment to stabilizing the economy, improving livelihoods, and positioning Nigeria for enhanced performance.

In his address, President Tinubu described the 2025 budget as a tool for “Restoration,” noting that the budget is aimed at consolidating economic reforms, boosting human capital development, and enhancing Nigeria’s trade and investment landscape.

He enumerated key initiatives to revive the manufacturing sector, increase oil and gas production, and elevate the competitiveness of the economy.

Reflecting on the administration’s efforts over the past 18 months, Tinubu emphasized the necessity of embarking on economic and institutional reforms.

He expressed gratitude to Nigerians for their resilience and support during this transformative journey, which he said is pivotal for the country’s path to greatness.

President Tinubu detailed notable achievements of the outgoing 2024 budget.

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These include ₦14.55 trillion in revenue generation, achieving 75% of the target by Q3 2024, and ₦21.60 trillion in expenditures, representing 85% of the target.

He noted significant economic growth, with GDP rising to 3.46% in Q3 2024 compared to 2.54% in Q3 2023, and foreign reserves increasing to $42 billion.

Additionally, Nigeria recorded a trade surplus of ₦5.8 trillion, reflecting the success of deliberate policy decisions.

Key priorities outlined for the 2025 budget include economic stability through robust fiscal and monetary policies.

This will ensure food security by prioritizing agriculture and increasing energy production to meet domestic and export demands.

Tinubu also emphasized infrastructure development in transportation, power, and housing, alongside enhanced social welfare programs in education, healthcare, and poverty alleviation.

During the budget presentation, Tinubu mistakenly referred to the assembly as the “11th National Assembly” but quickly corrected himself, joking, “I wrote 11th, which means you are all reelected.”

The jovial correction drew laughter and a standing ovation from lawmakers, who celebrated with a rendition of “On Your Mandate, We Shall Stand.”

Tinubu urged the National Assembly to expedite the review and passage of the budget, reiterating its importance in advancing the Renewed Hope Agenda.

He assured Nigerians that the 2025 budget represents a continued commitment to building a stable, prosperous, and hopeful future for the nation.