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PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR OF THE 2025 BUDGET OF RESTORATION:
PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR OF THE 2025 BUDGET OF RESTORATION: SECURING PEACE, REBUILDING PROSPERITY TO A JOINT SESSION OF THE NATIONAL ASSEMBLYON WEDNESDAY 18TH DECEMBER, 2024PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR OF THE 2025 BUDGET OF RESTORATION: SECURING PEACE, REBUILDING PROSPERITY TO A JOINT SESSION OF THE NATIONAL ASSEMBLYON WEDNESDAY 18TH DECEMBER, 2024
PROTOCOLS:– The Vice President, Senator Kashim Shettima– Senate President, Distinguished Senator Godswill Akpabio– Right Honourable Speaker, Tajudeen Abbas– National Chairman of our great party, Excellency, Abdullahi Umar Ganduje– State Governors here present– Distinguished Leaders and Members of the National Assembly– Senior Government Officials here present– Gentlemen of the press, My Fellow Nigerians,
- In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 11th National Assembly.
- On this day, before this hallowed chamber, I present to you the 2025 Budget at a time when our country is at a crucial point in its development trajectory.
- The 2025 Budget Proposal again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.
- The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.
- The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.
- We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.
- The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.
- We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.
- The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.
CURRENT ECONOMIC REALITIES AND PROGRESS
- Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly, I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.
- The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.
- Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.
o Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
o Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
o Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.
- These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.
2024 BUDGET PERFORMANCE
- I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:
o 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.
o 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.
- While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.
PHILOSOPHY OF THE 2025 BUDGET
- The 2025 Budget seeks to:
o Restore macroeconomic stability.
o Enhance the business environment.
o Foster inclusive growth, employment, and poverty reduction.
o Promote equitable income distribution and human capital development.
- Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.
2025 BUDGET OVERVIEW
- The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.
o In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.
o Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.
o A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.
- This is an ambitious but necessary budget to secure our future.
- The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).
- These projections are based on the following observations:
o Reduced importation of petroleum products alongside increased export of finished petroleum products.
o Bumper harvests, driven by enhanced security, reducing reliance on food imports.
o Increased foreign exchange inflows through Foreign Portfolio Investments.
o Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
KEY PRIORITIES: REBUILDING NIGERIA
- Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.
- Highlights of the 2025 Budget Allocations:
- Defence and Security: N4.91 trillion
- Infrastructure: N4.06 trillion
- Health: N2.48 trillion
- Education: N3.52 trillion
- As we embark on implementing the 2025 Budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing critical sectors essential for the growth and development we envision.
Securing Our Nation: - Security is the foundation of all progress. We have significantly increased funding for the military, paramilitary, and police forces to secure the nation, protect our borders, and consolidate government control over every inch of our national territory. The government will continue to provide our security forces with the modern tools and technology they need to keep us safe. Boosting the morale of our men and women in the armed forces will remain our government’s top priority.
- The officers, men, and women of our Armed Forces and the Nigerian Police Force are the shields and protectors of our nation. Our administration will continue to empower them to defeat insurgency, banditry, and all threats to our sovereignty. Our people should never live in fear—whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses, and rebuild our communities.
Infrastructure Development: - When we launched the Renewed Hope Infrastructure Development Fund, it was with the conviction that infrastructure remains the backbone of every thriving economy. Under this programme, we are accelerating investments in energy, transport, and public works. By leveraging private capital, we hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which will have a huge impact on the lives of our people and accelerate economic output.
Human Capital Development: - Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:
o Our administration has so far disbursed 34 billion naira to over 300,000 students via the Nigeria Education Loan Fund (NELFUND). In the 2025 Budget, we have made provision for 826.90 billion naira for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.
o We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated 402 billion naira for infrastructure investments in the health sector in the 2025 Budget and another 282.65 billion naira for the Basic Health Care Fund. Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians. This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.
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.
- Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly and fellow Nigerians, our 2025 budget proposal is not just another statement on projected government revenue and expenditures. It is one that calls for action.
- Our nation faces existential threats from corruption and insecurity and suffers from many past poor choices. These challenges are surmountable when we work collaboratively to overcome them. We must rewrite the narrative of this nation together, with every leader, institution, and citizen playing their part.
- The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.
- As your President, I remain committed and resolute to continue to lead the charge.
- This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved.
- It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly the 2025 Budget of the Federal Government of Nigeria titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity.
- May God bless our Armed Forces and keep them safe. May God bless the Federal Republic of Nigeria.
Thank you.
Bola Ahmed Tinubu, GCFR
President, Commander-in-Chief of The Armed Forces,
Federal Republic of Nigeria
News
CSOs Urge Senate to Halt Wasteful NNPCL Probe, Focus on Sector Reforms
A Coalition of Civil Society Organisations on Transparency and Accountability, has called on the Nigerian Senate to discontinue what it described as a misdirected and embarrassing probe into an alleged missing ₦210 trillion from the Nigerian National Petroleum Company Limited (NNPCL), urging lawmakers instead to concentrate on substantive reforms in the petroleum sector.
The Coalition in a press statement jointly signed by Comrades Danesi Momoh Prince and Igwe, Ude-Umanta, Conveners for Empowerment for Unemployed Youth Initiative and Guidance of Democracy and Development Initiative respectively, criticised the ongoing investigation as a circus show that lacks factual basis and wastes public resources.
According to the CSOs, “since last year, the Senate of the Federal Republic of Nigeria through its Public Accounts Committee has embarked on a senseless rigmarole and shadow chasing in the name of recovering N210 trillion naira missing (only in their imagination or mischief) from the NNPCL.
This circus show is meant for the committee to appear to be doing something, thereby inadvertently tarnishing the images of those the so called investigation points at and infuriating uninformed Nigerians against them. We insist that the Senate knows deep in their hearts that no such amount of money is missing. So only them can explain what they are actually up to.
“The claim of a missing ₦210 trillion is imaginary and unsubstantiated. The Senate’s continued focus on the allegation diverts attention from critical issues affecting Nigeria’s oil and gas industry. We are deeply concerned that the Senate is investing time and taxpayer money into probing figures that have no credible backing.
“This approach not only misleads the public but also undermines the seriousness of legislative oversight. It is our informed position that the Senate should prioritise pressing challenges in the petroleum sector, including transparency in oil revenue management, fuel subsidy concerns, regulatory inefficiencies, and the implementation of the Petroleum Industry Act (PIA).
“Already, the Economic and Financial Crimes Commission (EFCC) has already looked at the records under review. We believe that if there are further questions, those involved will answer them or face the consequences there of. It is not for the Senate to continue to create the impression that some people may have stolen N210 trillion of public money. It is not correct under the circumstance and it should stop. This appears to be pure legislative shenanigans.
“Sensational and unfounded probes can risk eroding investor confidence and damaging the credibility of Nigeria’s governance institutions. Since the petroleum sector remains the backbone of Nigeria’s economy, what is needed now is focused, data-driven oversight as against the clout chasing investigations.
The Coalition equally charged the Nigerian Senate to come clean and sanitise their house against the myraid accusations and allegations that have trailed their activities
“We think the Senate should rather be sober at this time the National Assembly is being accused of legislative rigging of the 2026 Electoral Act or deliberate insertion of clauses clearly designed for electoral fraud.
“Let us further remind Nigerians that since the inauguration of the 3rd National Assembly till this 10th one, the National Assembly has never recovered a kobo for Nigeria in all their probes. Instead, a lawmaker has gone to prison for receiving bribe during an orchestrated probe of the oil sector (which is exactly the same as this one by Public Accounts Committee of the Senate).
“Our suspicion based on the antecedents of the National Assembly is that the Senator Aliyu Wadada Public Accounts Committee may be trying to force the accused persons to compromise. This is electioneering time and we know some of the politico-financial undercurrents.
The CSOs concluded by calling for a more responsible and evidence based approach from lawmakers, emphasising the need for reforms that would enhance “accountability, efficiency, and sustainable growth in the sector.
“We all support public accountability. But when they come with deliberate public misinformation, bandied figures and attempt to embarrass those who offered meritorious national service, it must be rejected in the interest of justice and fairness. The Senate should abandon this embarrassment of a so called probe and focus on issues that are relevant to national economy and development.
“Infact, we wish to advise the Senate to help the unemployed, underemployed and masses of the Nigerian people by focusing on how NNPCL can deliver better under the current leadership where the business of the company appears more secret and veiled than security information and activities”.
News
2027: TMG Plans Mass Mobilisation for Tinubu
The Tinubu Mega Group (TMG) has ignited what observers are already describing as a nationwide political wave, rolling out an aggressive, multi-layered mobilisation strategy ahead of its historic May 17, 2026 National Convention in Abuja.
In a bold declaration of intent, the group, a formidable coalition of over 1,500 organisations cutting across civil society, professional bodies, labour unions, artisan networks, and grassroots movements, stated that Nigeria is witnessing the rise of an unprecedented national alignment in support of President Bola Ahmed Tinubu.
The development was made known in a statement signed on Monday in Abuja by Kennedy Tabuko on behalf of the National Secretariat. TMG announced that the countdown to May 17 will not be business as usual, but a relentless, coordinated national build-up designed to dominate public discourse, energise supporters, and firmly position the convention as the single most consequential political convergence in recent Nigerian history.
From the following days, the group will flood the media space with daily high-impact engagements, including front-page newspaper features, primetime television appearances, and strategic radio domination across all geopolitical zones. According to TMG, the objective is clear, to ensure that the voice of millions of Nigerians resonates in every corner of the country.
On the digital front, the group is activating a full-scale online offensive, deploying influencers, content creators, and grassroots digital networks to drive viral conversations under coordinated messaging. Daily videos, testimonials, and real-time mobilisation updates will showcase the growing momentum behind the movement.
Beyond the media, TMG revealed plans for simultaneous street-level actions across states, including coordinated road walks, market activations, and community rallies, transforming the build-up into a visible, people-driven movement.
In what it described as a “clear demonstration of unstoppable momentum,” the group confirmed that it will begin releasing milestone figures from its nationwide endorsement drive, building up to the formal presentation of 20 million signatures at the convention.
As the date draws closer, TMG will escalate its activities with a high-profile national media tour, massive outdoor visibility campaigns, and a final wave of coordinated engagements designed to ensure total national attention.
The group emphasised that the May 17 Convention will not merely be an event, but a defining national moment where a broad coalition of Nigerians will publicly and decisively endorse President Bola Ahmed Tinubu.
“This is not just mobilisation, this is a movement. This is the convergence of millions of voices across professions, regions, and social classes. Nigeria is aligning, and the message is unmistakable,” the statement declared.
TMG further assured that all activities will be conducted peacefully and in line with democratic principles, while urging Nigerians to be part of what it described as “a historic show of unity and national direction.”
With preparations now in full throttle, all eyes are on Abuja as May 17 approaches, a date TMG insists will redefine the scale and structure of civic and political engagement in Nigeria.
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NITDA Pursues Total Cyber Resilience, Drives Nigeria’s Digital Transformation Agenda
The National Information Technology Development Agency (NITDA) is intensifying its push to position Nigeria as a globally competitive digital economy, pursuing an ambitious agenda spanning cybersecurity, digital literacy, artificial intelligence governance, and strategic partnerships across the public and private sectors.
Under the leadership of Director General Kashifu Inuwa Abdullahi, CCIE, the agency has been repositioned as a focal point for digital transformation and innovation, managing the national computer emergency response team, implementing the National Digital Literacy Framework, and driving the Strategic Roadmap and Action Plan 2.0, all geared toward building a sustainable digital economy.
The Citizen Watch Advocacy Initiative (CWAI), in a statement signed by its Director of Media and Stakeholders Engagement, Mahmud Bello, said Inuwa’s tenure has recorded measurable gains in staff performance, institutional development, capacity building, and digital skills development for Nigerian youth at a scale not previously achieved since the agency’s establishment.
At a recent stakeholders’ meeting themed “Creating Opportunities, Breaking Boundaries,” the Director General described digitalization as the primary engine for economic transformation in an increasingly interconnected world, warning that Nigeria must deliberately position itself to harness technological advancements or risk being left behind in the global race for innovation. He noted that as Africa’s largest economy by GDP, Nigeria stands at a pivotal crossroads where the digital sector offers a strategic pathway for economic diversification and job creation.
NITDA has already established over 100 information technology centres nationwide to support learning and bridge the digital divide, though the Director General stressed that the long-term sustainability of these infrastructures depends on deeper cooperation across all sectors of the economy.
On the cybersecurity front, Abdullahi sounded a major alarm at the 2026 GITEX Africa Summit, declaring that the era of treating cybersecurity as a routine IT problem is over. Speaking on the theme of Total Resilience, he argued that as artificial intelligence-powered threats grow more elusive and destructive, Nigeria’s defense strategy must evolve into a multi-dimensional approach involving every level of society, from government institutions down to individual citizens.
“Cybersecurity is no longer just a technical issue. It is a strategic imperative for national development. We must think beyond technology alone and build resilience through people, processes, regulations, and infrastructure,” he said.
Citing data showing that 95 per cent of all digital breaches originate from human error, Abdullahi argued that even the most sophisticated encryption is rendered useless when the human element is compromised. NITDA’s response is a drive to turn every Nigerian citizen into what it describes as a “human firewall,” the first and most critical line of defense against AI-driven attacks.
To that end, the federal government has launched a comprehensive National Digital Literacy Programme with a target of achieving 95 per cent digital literacy nationwide by 2030, with an interim benchmark of 70 per cent by 2027. The “3 Million Tech Talent” programme complements this effort, developing Nigerian expertise across cybersecurity, data science, and artificial intelligence through hackathons, innovation challenges, and mentorship schemes.
NITDA is also deepening its institutional partnerships to secure critical infrastructure, working with agencies including the Nigeria National Petroleum Company Limited, the Federal Character Commission, the Corporate Affairs Commission, ICPC, NYSC, SMEDAN, and NigComSat, among others.
In a demonstration of its commitment to policy dialogue, NITDA recently hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course 48 in 2026 for a strategic study tour. The engagement focused on digital innovation’s role in driving sustainable economic growth, with particular attention to what the agency described as the Orange Economy, a creative and intellectual property-driven sector encompassing digital content creation, film animation, and digital art.
“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” Abdullahi stated.
At the Nigerian Satellite Week 2026 in Abuja, themed “Harnessing Space Technology for an Extraordinary Nigeria,” the NITDA chief outlined four principles he said should guide digital transformation: enabling rather than controlling the ecosystem; prioritizing networks over institutions; developing talent while supporting innovation; and focusing on platforms rather than isolated projects. He noted that Nigeria’s emerging space technology sector is now a significant economic driver, with the country’s “Sunrise Packet” projected to contribute over 1.5 billion United States dollars to the economy by 2030.
CWAI, which described cyber resilience as “a collective responsibility,” called on all sectors to support NITDA’s initiatives, including platforms such as GITEX Africa, GITEX Nigeria, and Digital Nigeria, which provide visibility for start-ups while attracting investment, partnerships, and mentorship to fuel inclusive national growth.
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