President Bola Tinubu has reaffirmed that discipline, focus, and diligence will be the guiding principles in executing the N54.99 trillion 2025 Budget of Restoration, emphasizing a commitment to fiscal responsibility and sustainable economic growth.
The President signed the budget into law in the presence of Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, and Senate Committee Chairman on Appropriation, Senator Solomon Adeola.
“Today, we take another bold step in our nation’s journey toward economic recovery, stability, and growth. With the signing of the 2025 Budget of Restoration, we reaffirm our commitment to rebuilding prosperity and ensuring that every Nigerian benefits from governance,” Tinubu stated.
economic trajectory
Reflecting on Nigeria’s economic trajectory, President Tinubu noted that reforms initiated in the past year were beginning to yield significant results, fostering renewed investor confidence and national economic stability.
“The past year tested our resilience, but through strategic reforms, we achieved what many thought impossible. Despite initial turbulence, signs of progress are evident—our economy is turning the corner,” he said.
He highlighted key economic indicators, including:
- GDP growth of 3.86% in Q4 2024—the highest in three years.
- Revenue growth from N12.37 trillion to N21.6 trillion, driven by fiscal efficiency.
- Deficit reduction from 6.2% in 2023 to 4.17% in 2025.
- Foreign exchange reforms that stabilized financial markets and restored investor confidence.
- Infrastructure investments, such as the 750km Lagos-Calabar Coastal Highway and the 1,068km Sokoto-Badagry Superhighway.
Additionally, President Tinubu underscored social impact initiatives, including the increase in the national minimum wage to ₦70,000, aimed at enhancing workers’ purchasing power and strengthening economic resilience.
Legislative Collaboration and Governance Accountability
President Tinubu commended the National Assembly for its swift passage of the appropriation bill, highlighting their cooperation and shared vision for national development.
“We have no dust on our faces or tears in our eyes. We walked together as brothers and sisters. Though the initial outlook was turbulent, we can now see signs of progress,“ he remarked.
The President urged continued legislative support for the budget’s implementation, emphasizing key priority areas such as national security, infrastructure, energy, healthcare, education, and skills development.
He also stressed that increased budgetary allocations for agriculture and food security would enhance local food production and ensure no Nigerian goes hungry. Furthermore, the expanded social welfare budget would support youths, women, and vulnerable citizens.
Commitment to Fiscal Prudence
Acknowledging the importance of fiscal discipline, President Tinubu made it clear that Nigeria must live within its means.
“This budget is bold, ambitious, and necessary. However, we cannot spend what we do not have. While we have significantly reduced the deficit, every naira spent must be backed by real revenue,” he asserted.
To achieve this, the administration will:
- Expand government revenues through efficiency reforms and enhanced earnings.
- Accelerate public-private partnerships (PPPs) and foreign investments to fund major projects.
- Hold government agencies accountable for prudent spending and value-for-money initiatives.
executive prioritie
President Tinubu also announced plans to collaborate with the National Assembly to refine the Appropriations Act, ensuring that amendments align with executive priorities and legislative oversight.
“A budget is not just numbers—it is a promise, and we must honour it with discipline,“ he emphasized.
economic leadership.
Senate President Godswill Akpabio assured the President of the National Assembly’s unwavering support in implementing the budget, acknowledging Tinubu’s bold economic leadership.
“The President inherited a foaming economy, requiring urgent intervention. His experience in governance and resource management has enabled critical economic reforms,” Akpabio noted.
Similarly, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the budget process as a collaborative effort built on consultation, negotiation, and economic analysis.
“The National Assembly has been a key partner in progress, working closely with Mr. President to ensure the swift passage of the budget,” he added.
Economic Growth
The 2025 Budget of Restoration is positioned as a blueprint for national recovery and sustainable development, reflecting the government’s determination to foster economic stability, social inclusion, and long-term prosperity.
About the Author
