In a significant move to solidify Nigeria’s economic recovery and growth, President Bola Ahmed Tinubu has signed the historic 2025 Budget of Restoration, totaling ₦54.99 trillion. The budget, based on projected revenues, underscores his administration’s commitment to fiscal discipline, infrastructure development, and social welfare.
The signing ceremony, held at the State House in Abuja, was witnessed by key government officials, including Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, and Senate Committee Chairman on Appropriation, Sen. Solomon Adeola.
Addressing the nation, President Tinubu described the budget as a crucial step in Nigeria’s journey toward economic recovery, stability, and growth.
“Today, we take another bold step in our nation’s journey of economic recovery, stability, and growth with the signing of the 2025 Budget of Restoration. We reaffirm our commitment to securing our future, rebuilding prosperity, and ensuring that every Nigerian shares in the dividends of governance,” he stated.
Reflecting on the past year, the President acknowledged the economic challenges but emphasized that his administration’s strategic reforms were yielding positive results. He noted that Nigeria’s GDP grew by 3.86% in the last quarter of 2024, the fastest in three years, signaling that the economy is turning a corner.
President Tinubu outlined some remarkable economic milestones achieved under his leadership, including:
✅ Revenue Growth: Government revenue increased from ₦12.37 trillion to ₦21.6 trillion, demonstrating improved fiscal efficiency.
✅ Deficit Reduction: The budget deficit shrank from 6.2% in 2023 to 4.17% in 2025, indicating better financial management.
✅ Forex Reforms: Policies restoring investor confidence and stabilizing currency markets.
✅ Minimum Wage Increase: The federal minimum wage was raised to ₦70,000, improving workers’ purchasing power.
✅ Infrastructure Projects: Major national projects, including the 750km Lagos-Calabar Coastal Highway and the 1,068km Sokoto-Badagry Superhighway, are advancing rapidly.
The President stressed that the budget’s priority areas include National Security, Infrastructure, Energy, Human Capital Development, Healthcare, Education, and Skills Development. The increased allocation for agriculture and food security aims to boost local food production and ensure no Nigerian goes hungry. Additionally, enhanced social welfare provisions will support youths, women, and vulnerable citizens.
President Tinubu assured Nigerians that his administration would not engage in reckless borrowing.
“This budget is bold, ambitious, and necessary. However, let me be clear: We cannot spend what we do not have. While we have significantly reduced the deficit, we must ensure that we back every naira spent with actual revenue.”
He emphasized a multi-pronged revenue approach, including efficiency reforms, public-private partnerships, and foreign investment, to fund critical projects without burdening future generations.
Additionally, he declared that all government agencies would be held accountable for prudent spending and value-for-money initiatives. He also pledged to work with the National Assembly to redefine corrigenda within the Appropriations Act, ensuring transparency and legislative oversight.
Speaking at the event, Senate President Godswill Akpabio assured President Tinubu of the National Assembly’s full support in implementing the budget.
“The President inherited a foaming economy that needed urgent economic measures to recover. His experience and expertise in managing resources are already yielding results.”
Similarly, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, acknowledged the collaborative effort in passing the budget, emphasizing the strong partnership between the executive and legislative arms of government.
The 2025 Budget of Restoration signals a new era of economic resilience and national transformation. With a focus on revenue growth, infrastructure expansion, and social welfare, President Tinubu is setting the foundation for a more prosperous Nigeria.
As the administration moves forward with implementation, all eyes will be on the government’s ability to translate policy into tangible progress, ensuring that every Nigerian truly benefits from the dividends of governance.
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