SECURITY, INFRASTRUCTURE, EDUCATION TOP TINUBU’S 2025 N47.9TN BUDGET PROPOSAL
President Bola Tinubu has presented a proposed 2025 budget of N47.9 trillion to the National Assembly, with a focus on security, infrastructure, and education. This budget represents a 36.8% increase from the 2024 estimate, with a projected revenue of N34.82 trillion and a deficit of N13.13 trillion.
Key Areas of Focus
The proposed budget prioritizes the following areas:
- Security: To address the country’s security challenges and ensure the safety of citizens. The budget allocates a significant amount to the security sector, including funding for the military, police, and other security agencies.
- Infrastructure: To invest in critical infrastructure projects, such as roads, bridges, and public transportation. The budget includes funding for several major infrastructure projects, including the Lagos-Ibadan expressway and the Abuja-Kaduna-Zaria-Kano expressway.
- Education: To improve access to quality education and invest in programs that promote skills development and entrepreneurship. The budget includes funding for several education initiatives, including the Universal Basic Education (UBE) program and the Tertiary Education Trust Fund (TETFund).
Budget Breakdown
The proposed budget is pegged on an oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of N1,400 to a dollar. The total projected revenue for 2025 stands at N34.82 trillion, with a deficit of N13.13 trillion, representing 3.89% of the GDP.
Revenue Projections
The proposed budget projects revenue from various sources, including:
- Oil Revenue: N11.6 trillion
- Non-Oil Revenue: N10.3 trillion
- Independent Revenue: N2.1 trillion
- Grants and Aids: N1.2 trillion
Infrastructure Spending
The proposed budget includes significant funding for infrastructure projects, including:
- Roads: N1.2 trillion
- Bridges: N200 billion
- Public Transportation: N150 billion
- Housing: N100 billion
Education Spending
The proposed budget includes significant funding for education initiatives, including:
- Universal Basic Education (UBE): N200 billion
- Tertiary Education Trust Fund (TETFund): N150 billion
- Scholarships and Bursaries: N50 billion
Security Spending
The proposed budget includes significant funding for security agencies, including:
- Military: N1.5 trillion
- Police: N500 billion
- Department of State Services (DSS): N200 billion
Conclusion
The proposed 2025 budget presented by President Tinubu prioritizes security, infrastructure, and education, with a focus on promoting economic growth and improving the standard of living for Nigerians. As the National Assembly reviews the budget, it is essential to ensure that the allocations align with the country’s development priorities and are implemented efficiently and effectively.
