President Bola Tinubu on Wednesday, December 18, presented a ₦47.96 trillion national budget for 2025 to a joint session of the National Assembly, pledging to drive economic prosperity and sustain ongoing reforms. Tinubu highlighted Nigerians’ resilience amid economic challenges and expressed optimism about the budget’s potential to strengthen the economy. “I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence,” he said. The 2025 budget focuses on advancing national security, creating economic opportunities, and investing in infrastructure. Tinubu noted that improvements in 2024 laid the foundation for this proposal. Nigeria’s economy grew by 3.46% in the third quarter of 2024, up from 2.54% in the same period of 2023. “Our rising exports are reflecting the current trade surplus, which now stands at ₦5.8 trillion, according to the National Bureau of Statistics,” Tinubu added, emphasising that foreign reserves have climbed to nearly $42 billion, providing a buffer against external shocks. The President pledged to consolidate key policies, stressing the importance of leveraging economic realities to achieve prosperity. “We do not intend to depart from the critical path to strengthen the economy,” he asserted. The National Assembly is expected to commence sectoral debates on the budget immediately, barring last-minute changes. Tinubu urged lawmakers to consider the budget’s potential to deliver on its promise of economic transformation.
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