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FULL TEXT Of Tinubu’s Speech At 2025 Budget Presentation To National Assembly

In fulfilment of one of my constitutional duties and with an 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 10th 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.
READ ALSO:JUST IN: Tinubu Presents N49.7tn 2025 Restoration Budget
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.
Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
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.
I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:
14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.
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.
READ ALSO: JUST IN: Tinubu Arrives N’Assembly To Present 2025 Budget
The 2025 Budget seeks to, restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction and 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.
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.
In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget. Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing. 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: reduced importation of petroleum products alongside increased export of finished petroleum products, bumper harvests, driven by enhanced security, reducing reliance on food imports, increased foreign exchange inflows through Foreign Portfolio Investments and higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
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 and 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.
READ ALSO: JUST IN: FEC Approves 2025 Budget Proposal Eith N47.96trn Expenditure Plan
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.
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.
Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:
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.
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.
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 on 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
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VIDEO: Why I’ve Never Tried Convincing My Christian Wife To Convert To Islam — Tinubu

President Bola Ahmed Tinubu has explained why he has never attempted to convince his wife, First Lady Oluremi Tinubu, to convert to Islam, stressing his belief in love, religious freedom, and mutual respect among people of different faiths.
Speaking on Saturday at the funeral service of Nana Lydia Yilwatda, mother of the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwada, Tinubu said his marriage to a Christian pastor has never created any conflict in their home.
The president, who arrived in Jos, Plateau State around 2 p.m. for the ceremony at the COCIN headquarters church, said he inherited Islam from his family and has always upheld the principle of freedom of religion.
READ ALSO:Benin Monarch To Tinubu’s Daughter: Do You Know Role Of Iyeki In Benin Culture?
He noted that both he and the First Lady serve the same God and would ultimately be answerable to Him, adding that what matters most are people’s deeds, character, and love for others.
Tinubu urged Nigerians to embrace tolerance and peaceful coexistence, emphasising that hate should never have a place in the country.
He also prayed for the repose of the soul of the late Lydia Yilwada and asked God to grant comfort and blessings to those she left behind.
READ ALSO:Tinubu Appoints New Heads For Key Agencies
He said, “Hate is not an option for us. Love is what you preach, that we should love one another.
“Nobody, nobody determines what God has ordained. God’s ordained action and his promises are what matter. I inherited Islam from my family. I didn’t change. But my wife is a pastor. She prays for me.
“No conflict. And I never did at any single time try to convince her or convert her. I believe in the freedom of religion.
“We are praying to the same God. We are answerable to the same almighty God. We will answer to him. We will account to him. Our deeds, our character, our love for our fellow beings are what are important.
“May the almighty accept the soul of Lydia and give all that she left behind blessings and glory, so we say, may her soul rest in peace.”
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UK Police Quiz Six After Fatal Synagogue Attack

Six people arrested on suspicion of “terrorism”-linked offences after a fatal car-ramming and knife attack on a UK synagogue remained in police custody on Saturday, as Prime Minister Keir Starmer urged people not to take part in pro-Palestinian protests.
Two people were killed and three others seriously wounded in Thursday’s attack in northwestern Manchester on Yom Kippur, the holiest day of the Jewish calendar.
Police shot dead the assailant, Jihad Al-Shamie, a 35-year-old UK citizen of Syrian descent, within minutes of the alarm being raised.
Three men and three women are in custody.
The attack has heightened fear among Britain’s Jewish community.
Police said they were patrolling places of worship across the city “with a particular focus on providing a high-visibility presence within our Jewish communities”.
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The attack on Heaton Park Hebrew Congregation Synagogue in north Manchester was one of the worst antisemitic incidents in Europe since the October 7, 2023, attack in Israel led by Palestinian Islamist group Hamas.
The Hamas attack resulted in the deaths of 1,219 people, mostly civilians, according to an AFP tally of Israeli official figures.
Israel’s retaliatory offensive on the Gaza Strip has killed at least 66,288 Palestinians, also mostly civilians, according to health ministry figures in the occupied territory that the United Nations considers reliable.
The Gaza conflict has inflamed passions in Britain, with frequent pro-Palestinian rallies in cities that some critics allege have stoked antisemitism.
A “global movement for Gaza UK” protest went ahead in London late on Thursday, with police making 40 arrests.
London’s Metropolitan Police asked organisers delay another planned demonstration backing the banned Palestine Action group later on Saturday.
However, organisers Defend Our Juries rejected the calls.
READ ALSO:US Faces ‘War From Within’, Trump Tells Generals
A spokesman said the group “stood in solidarity” with the Jewish community over the attack.
– Accidental shooting –
Starmer urged protesters not to join the pro-Palestinian rally.
“I urge anyone thinking about protesting this weekend to recognise and respect the grief of British Jews. This is a moment of mourning. It is not a time to stoke tension and cause further pain,” he said on X.
During the attack, Shamie was seen “with a big knife, banging his knife into the glass, trying to get through”, synagogue chairman of trustees Alan Levy, who helped barricade the doors, told ITV News.
“The heroes of the congregation who saw what was happening then came to the doors because he was trying to break the doors down to get in,” he added.
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A UK police watchdog, meanwhile, said it would look at the police shooting of Shamie.
The probe would also look at the shooting of a second victim who suffered a fatal gunshot and a third person who was shot but survived.
The Independent Office for Police Conduct (IOPC) said there was no evidence anyone other than police used firearms at the scene.
“Our independent investigation will look at the circumstances surrounding the fatal police shooting of Jihad Al-Shamie,” it said in a statement.
“A post mortem has today (Friday) concluded another man who died at the scene suffered a fatal gunshot wound.”
IOPC investigations are standard practice in situations where the use of force by police may have resulted in the death of a member of the public.
News
Edo Inaugurates Committee On Drug Abuse, Healthy Living

Edo State Government has inaugurated Drug Control Committee for the state and local governments, aimed at curbing the menace of drug abuse in the state.
Inaugurating the committee, Governor Monday Okpehbolo said the committee was not only saddled with the responsibility of curbing the menace of illicit substances, but to promote healthier living across communities in the state.
Represented by his deputy, Hon. Dennis Idahosa, Okpebholo described the initiative as “a vital step in our unwavering commitment to stopping the menace of drug trafficking and substance use among youths.”
The governor, who bemoaned the rising tide of drug dependency and its impact on society, pointed out that the committee’s creation aligns with the national drug master plan and represents a bold stride toward protecting Edo future generations.
READ ALSO:Idahosa Hails Insurance 1-0 Thrashing Of Niger Tornadoes
On his part, Chairman of the National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa, represented by ACGN, Fidelis Cocodia, Zonal Commander, Zone 13, emphasised grassroots interventions, awareness campaigns, and support systems as the backbone of the fight against drug abuse.
Edo State commander of the NDLEA, Mitchell Ofoyeju disclosed that while national drug use prevalence stands at 14.4 percent, Edo state surpasses the average at 15 percent.
He noted that the state is one of the hardest-hit states in the country, warning that the trend has fueled crime and heightened youth vulnerability.
READ ALSO:Idahosa Lauds Edo Specialist Hospital Facilities
The state’s Commissioner for Health, Dr. Cyril Oshiomhole pledged to make Edo a model in drug control through rehabilitation, youth enlightenment, and second-chance opportunities for recovering addicts.
Coordinator, Office of the First Lady, Edo State, Mrs. Edesili Okpebholo Anani, described drug abuse as a pandemic, noting that “you hardly see a crime without drugs being involved.”
She added that women’s empathy and influence must be harnessed in the campaign against drug abuse.
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