President Bola Ahmed Tinubu on Friday signed the N54.99 trillion 2025 budget into law, marking the largest fiscal plan in Nigeria’s history.
The whooping 2025 Budget of termed “Budget of Restoration” is to reassure Tinubu’s administration commitment to economic recovery, fiscal discipline, and national development.
The bill, passed by the two Chambers of the National Assembly on February 13, after Tinubu asked for an increase from the proposed N49.7tn.
However, The National Assembly approved a ₦54.99 trillion ($36.6bn) budget for the fiscal year, surpassing President Bola Tinubu’s initial proposal of ₦54.2tn.
The 2025 Appropriation Act represents a 99.96% increase from the 2024 Budget of N27.5 trillion.
Speaking in his office at the state house in Abuja, president Tinubu emphasized that the budget reflects his government’s dedication to improving security, infrastructure, and social welfare while sustaining reforms that drive economic growth and stability.
Also read: https://afrocover.com/tinubu-signs-54-99tn-2025-budget/
Full speech of president Bola Tinubu signing of the 2025 Appropriation Bill:
Protocol
Senate President, Speaker of the House of Representatives, Distinguished senators and honourable members, ministers and other Partners in Progress:
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.
The past year tested our resolve. But through economic discipline and strategic reforms, we achieved what many deemed impossible. After the initial turbulent take-off, our people can see signs of progress and the promise of a better future. Our economy is turning the corner.
• Our national GDP growth rebounded to 3.86% in the last quarter, the fastest in three years.
• Revenue increased to N21.6 trillion from N12.37 trillion, reflecting our drive for fiscal efficiency.
• Deficit reduced significantly—from 6.2% in 2023 to 4.17% in 2025.
• Forex reforms restored investor confidence, stabilising our markets.
• The minimum wage was raised to ₦70,000, strengthening the purchasing power of workers.
• Infrastructure development advanced rapidly, with transformative projects such as the 750km Lagos-Calabar Coastal Highway and the 1,068km Sokoto-Badagry Superhighway.
We have laid the foundation for stability. Now, we must build on it.
With an unprecedented ₦54.99 trillion budget, we are making the largest-ever investments in critical sectors:
• National Security – ₦6.11 trillion: The highest defence allocation in Nigeria’s history to secure our nation from threats.
• Infrastructure – ₦5.99 trillion: Major rail, road, and energy projects to connect our cities and drive economic expansion.
• Human Capital Development – ₦5.70 trillion: Unprecedented funding for healthcare, education, and skills development.
• Agriculture and Food Security₦3.73 trillion: This will boost local food production and ensure no Nigerian goes hungry.
• Social Welfare ₦723.68 billion: will Support our youth, women, and vulnerable citizens.
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. We will not burden future generations with reckless borrowing. Instead, we will:
• Expand government revenues through efficiency reforms and enhanced earnings.
• Accelerate public-private partnerships and foreign investments to finance key projects.
• Hold every agency accountable for prudent spending and value-for-money initiatives.
I want to express my profound gratitude to the leadership of the National Assembly for the extraordinary and patriotic duty of passing the budget in record time. To ensure smooth budget implementation, we will work with the National Assembly to redefine corrigenda within the Appropriations Act.
The redefinition will establish clear triggers for amendments, balancing executive needs with legislative oversight. A budget is not just numbers—it is a promise, and we must honour it with discipline.
Fellow Nigerians, this budget is more than figures—it is a statement of purpose. It is a commitment to security, prosperity, and opportunity for all.
With hard work, discipline, and faith, we will restore our economy, rebuild our nation, and secure a brighter future for every Nigerian.
God bless the Federal Republic of Nigeria.
