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

Published

6 months ago

December 18, 2024

Editor

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.

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.

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.

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

Related Topics:#Tinubu 2025 Budget Budget

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Why Bauchi’s Future Rests with Speaker Abubakar Suleiman

Published

4 hours ago

June 19, 2025

Editor

By Isa Danbala

As the political landscape in Bauchi State begins to realign ahead of the 2027 governorship race, one name is commanding growing support across party lines, youth groups, and civil society is that of Rt. Hon. Dr. Abubakar Y. Suleiman, the seasoned Speaker of the Bauchi State House of Assembly.

With increasing calls for him to declare his ambition, it is becoming evident that Suleiman represents the most credible, tested, and people-focused option to take over from Governor Bala Mohammed and lead Bauchi into a new era of inclusive development and political stability.

On June 18, 2025, the Bauchi State Coalition of Youth and Civil Society Groups, under the Dangaladiman Ningi Vanguard, formally urged Speaker Suleiman to step forward and contest the 2027 gubernatorial elections. Their message, delivered at a press conference in Bauchi, was clear and resonant: “This is not just a political endorsement,” they said, “it is a call to service.” And few public servants in Bauchi today better exemplify a life of service, humility, and performance than Abubakar Suleiman.

Suleiman’s credentials speak for themselves. A lawmaker with a deep understanding of governance, he has served three consecutive terms as Speaker an unprecedented achievement in Bauchi’s legislative history.

Under his leadership, the Assembly has emerged as a model of efficiency, discipline, and people-centered lawmaking. While others campaign with promises, Suleiman has a portfolio filled with results bills passed, institutions strengthened, and lives impacted. He has proved that leadership is not about noise but about steady, measurable progress.

Beyond the Assembly floor, Suleiman’s human development initiatives are widely acknowledged. In many rural communities, his presence is felt through classroom construction, educational materials for school children, medical outreach programs, food relief efforts, and vocational training for youths.

These interventions have not only improved lives but shown the Speaker’s grasp of what governance means at the grassroots level. He is not just a politician he is a servant leader who understands the needs of the people and responds to them directly.

Another compelling reason why Suleiman is best positioned as the ideal successor to Governor Bala Mohammed is his unwavering loyalty and capacity for cooperation. As Speaker, he has built and sustained a productive relationship with the executive arm of government, ensuring that the state’s development agenda proceeds without needless friction.

His ability to mediate, harmonize and prioritize the public good over personal ambition has earned him wide respect, both within his party and across the broader political spectrum. This loyalty has never been about personal gain—it has been about continuity, stability, and ensuring that the wheels of progress keep turning.

In contrast, many of the other aspirants lining up for the 2027 race are either disconnected from the realities on the ground or lack the political temperament to sustain harmony in governance.

While some may have impressive federal titles, they lack Suleiman’s deep local roots and first-hand understanding of the challenges facing Bauchi communities. Others have spent more time in Abuja than in Bauchi, speaking more to elite concerns than to the daily struggles of farmers, artisans, and students. Speaker Suleiman, on the other hand, has never left the side of his people.

Even within the APC, a party blessed with high-profile aspirants like Dr. Ali Pate, Ambassador Yusuf Tuggar, Air Marshal Sadiq Abubakar, and Senator Shehu Buba, Suleiman’s profile is not just competitive it is superior in many key areas. He brings to the table not only legislative experience but also political tact, grassroots acceptability, and a proven ability to unite divergent interests. He does not divide—he builds bridges. And in a state as politically dynamic as Bauchi, that quality is indispensable.

The same can’t be said of the PDP field, where names like Senator Abdul Ningi, the current Commissioner of Finance, and other technocrats have been mentioned. While many of them have solid records, none possess Suleiman’s unique combination of experience, humility, and direct impact. None have his unmatched tenure as Speaker, or his widespread support among the youth and civil society.

Moreover, Suleiman’s political strength lies not just in the number of supporters he has but in the nature of that support. The call for him to contest is coming not from political jobbers or godfathers, but from ordinary people: community leaders, young professionals, market women, and non-governmental actors who see in him a leader they can trust. They believe that the same man who stood with them in quiet seasons of need can be trusted to govern them with fairness, vision, and courage.

The argument about zoning is another issue that Suleiman’s candidacy intelligently addresses. Coming from Ningi in Bauchi Central, he stands in a strategic position to bridge the recurring agitation between Bauchi North and Bauchi South. He is acceptable across the zones and has no history of divisive politics. In a state where unity is the foundation for progress, Suleiman is that neutral voice that all sides can rally around.

As 2027 approaches, the decision before the people of Bauchi is not merely about electing a new governor it is about choosing the direction of the state’s future. Will Bauchi continue on the path of meaningful development, stability, and inclusive governance, or will it retreat into the uncertainties of experimental leadership? With Speaker Abubakar Suleiman, the path is clear. His experience is deep, his temperament calm, his record solid, and his compassion genuine.

The call has been made. The people are ready. The moment is now. All that remains is for the man himself Rt. Hon. Dr. Abubakar Y. Suleiman to answer the call.

If he does, Bauchi may be set for a smooth, impactful, and people-focused transition that will deepen development and restore confidence in leadership. And history, as always, will remember those who stood up when the people called.

Isa Danbala, write from Abuja

News

Ghanaians Protest, Decry ‘State-sponsored’ Harassment In Abuja

Published

5 hours ago

June 19, 2025

Editor

Hundreds of Ghanaian investors and community members on Wednesday besieged the Nigerian High Commission in Abuja, demanding redress over what they described as “systematic harassment, intimidation, and violation of our fundamental rights” by the Nigeria Police and the Economic and Financial Crimes Commission.

“Our businesses are being hounded at every turn,” one of the lead developers of the River Park Estate project in Abuja, Kojo Mensah, said.

The investors claimed that their fundamental rights were being violated, alleging arbitrary arrests, repeated police invitations, and intimidation by both the police and the EFCC.

“We’ve been arrested arbitrarily, summoned without cause, and subjected to endless interrogations, yet the very complaints we cooperated to resolve back in 2012 remain buried in some dusty file,” he said.

Carrying banners that read, “Hands Off Ghanaian Investors!” and “Tinubu, Mahama: Intervene Now!”, the demonstrators called for the immediate removal of Inspector General of Police, Mr Kayode Egbetokun, whom they accused of targeted attacks on Ghanaian businesses operating in Nigeria.

“We demand that President Bola Tinubu and President John Mahama use every diplomatic channel to stop this injustice,” the investors said.

The protest follows the filing of a suit at the Federal High Court in Abuja, in which Jonah Capital and its co-plaintiffs named IGP Egbetokun, the Nigeria Police, and the EFCC as defendants.

They are seeking a perpetual injunction restraining both agencies “from any further interference in the River Park Estate matter,” immediate disclosure of the long-delayed Special Investigation Panel report, and the sum of N200m in damages for alleged breaches of their constitutional rights.

The suit, according to the plaintiffs, is not only to seek redress but also to safeguard the integrity of foreign investments in Nigeria and discourage what they describe as state-sponsored intimidation of legitimate investors.

In their amended writ, the plaintiffs alleged that although the SIP concluded its probe and reported to the IG, those findings had never been furnished to the investors despite repeated formal requests.

“Instead,” the suit contends, “a senior officer in the IG’s Monitoring Unit has unilaterally reopened the investigation, purportedly to undermine the SIP’s clear exoneration of our companies.”

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Pastor Enenche Rejects N30m Donation From Kebbi Governor

Published

5 hours ago

June 19, 2025

Editor

The Senior Pastor of Dunamis International Gospel Centre, Dr Paul Enenche, has rejected a N30 million donation offered by the Kebbi State Governor, Nasir Idris, during a crusade organised by the church in the state.

The gesture occurred at the Kebbi Healing and Deliverance Crusade, where a representative of the governor, Kebbi’s Commissioner for Social Duties, Zayyanu Umar Aliero, announced the cash gift on behalf of the governor.

Aliero told the gathering that the N30m was approved as a donation to the crusade’s organising committee and was available in cash.

Aliero said, “Our Governor, His Excellency Dr Nasir Idris, a faithful Governor and also a Comrade Governor, who you all know is the only Comrade Governor in this country. He has therefore graciously approved the donation of the sum of 30 million naira to this gathering.

“That is to the organising committee. His Excellency has approved the donation of a sum of 30 million naira to the organising committee, which you know that whenever His Excellency makes a donation, he doesn’t leave without bringing that donation in cash. So before I leave this stage, I want to present that sum of 30 million naira in cash.”

However, Enenche declined the offer, taking to the stage to urge that the money be redirected to charitable causes.

“If there is anything like orphanage, if there is anything like that, at your discretion, please apply this amount of money to it. No. It will not be received,” the senior pastor said.

Speaking later, Enenche explained the church’s stance, emphasising that public funds should be used solely for public causes.

“We are one of those who believe that government money should be used for government projects and government things should be used for government things; and church money should be used for church things, not mixed together.

“That is what we did that is what we do. As small as the Glory Dome is right there, government money is not in it. From land to the building to everything,” he said.

He added that the body of Christ should “trust God for supernatural supplies.”

He suggested that the donation be handed over to a government-approved religious body instead, such as the Christian Pilgrims Welfare Board or the Christian Association of Nigeria.

“This is so that we can retain our dignity as a body of Christ; retain our dignity as a church, and say what we need to say when we need to say it. And be able to say what we need to say when we need to say it,” he said.

Aliero, speaking after the rejection, acknowledged Enenche’s position.

“They don’t accept it because whatever he is doing, he is doing it for the sake of God. We really appreciate and we really thank him for what he is doing in our state,” he said.