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PRESENTATION BY HIS EXCELLENCY, PRESIDENT BOLA AHMED TINUBU, GCFR OF THE 2025 BUDGET OF RESTORATION: SECURING PEACE, REBUILDING PROSPERITY* *TO* *A JOINT SESSION OF THE NATIONAL ASSEMBLY ON WEDNESDAY 18TH DECEMBER, 2024
PROTOCOLS:
— The Vice President, Senator Kashim Shettima
— Senate President, Distinguished Senator Godswill Akpabio
— Right Honourable Speaker, Tajudeen Abbas
— National Chairman of our great party, Excellency, Abdullahi Umar Ganduje
— State Governors here present
— Distinguished Leaders and Members of the National Assembly
— Senior Government Officials here present
— Gentlemen of the press,
My Fellow Nigerians,
1. In fulfilment of one of my constitutional duties and with 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
CURRENT ECONOMIC REALITIES AND PROGRESS
10. 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.
11. The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.
12. Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.
o Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
o Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
o 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.
13. 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.
2024 BUDGET PERFORMANCE
14. I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:
o 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.
o 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.
15. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.
PHILOSOPHY OF THE 2025 BUDGET
16. The 2025 Budget seeks to:
o Restore macroeconomic stability.
o Enhance the business environment.
o Foster inclusive growth, employment, and poverty reduction.
o Promote equitable income distribution and human capital development.
17. Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.
2025 BUDGET OVERVIEW
18. 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.
o In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.
o Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.
o A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.
19. This is an ambitious but necessary budget to secure our future.
20. 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).
21. These projections are based on the following observations:
o Reduced importation of petroleum products alongside increased export of finished petroleum products.
o Bumper harvests, driven by enhanced security, reducing reliance on food imports.
o Increased foreign exchange inflows through Foreign Portfolio Investments.
o Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
KEY PRIORITIES: REBUILDING NIGERIA
22. Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.
23. Highlights of the 2025 Budget Allocations:
• Defence and Security: N4.91 trillion
• Infrastructure: N4.06 trillion
• Health: N2.48 trillion
• Education: N3.52 trillion
24. 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.
Securing Our Nation:
25. 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.
26. 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.
Infrastructure Development:
27. 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.
Human Capital Development:
28. Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:
o 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.
o 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.
Revitalizing Agriculture:
29. 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.
30. 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.
31. 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.
32. 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 for us as a nation.
33. As your President, I remain committed and resolute to continue to lead the charge.
34. 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.
35. 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.
36. 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
By: Divine Perezide
As the countdown begins for the forthcoming Ijaw Media Conference Volume 2, the organizers, Ijaw Publishers’ Forum (IPF) has announced that the President of Egbema Brotherhood, Alaowei Promise Lawuru, has accepted the role of Guest of Honour come December 2025.
IPF had earlier announced the second edition of its annual event, with the Christined “Safeguarding Niger Delta’s Natural Resources for Future Generations.”
Chief Lawuru, the young Ijaw businessman and politician, received a delegation of the Central Working Committee led by Pastor Arex Akemotubo last Monday, where the invitation was extended to him.
Akemotubo explained that this year’s theme was chosen out of concern for the growing strain on the region’s land and waters. The Publisher of WaffiTV stressed that the forum wants to strengthen public understanding, support honest reporting, and encourage leaders to protect the resources of the Niger Delta for generations to come, adding that Lawuru’s antecedence of service to humanity and unwavering commitment to community development made him a natural choice for the role.
Chief Lawuru welcomed the invitation and spoke warmly about the need for shared responsibility among stakeholders and groups such the IPF. He commended the Forum for using media to defend the region’s interests and promised full support for the conference.
Lawuru further urged other stakeholders across the Ijaw nation to throw their weight behind efforts that safeguard the resources and environment of Ijaw nation in particular and the larger Niger Delta region.
As the train continues to galvanise leaders across the region, IduwiniVoice can report that the who is who in the Niger Delta from business to political sphere are marked to be in attendance.
IduwiniVoice
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NNAMDI KANU: INC CALLS FOR POLITICAL SOLUTION OVER KANU’S LIFE SENTENCE, WARNS AGAINST NATIONAL TENSIONS
By: Favour Bibaikefie
The Ijaw National Congress (INC) Global, has expressed concerns over the life sentence handed down to Indigenous People of Biafra (IPOB) leader, Mazi Nnamdi Kanu, urging the Federal Government to pursue a political solution rather than rely solely on judicial outcomes.
In a statement issued from Ijaw House, Yenagoa, on November 22, 2025, the INC President, Professor Benjamin Ogele Okaba, emphasized that the ruling carries far-reaching implications for National Cohesion, democratic values, and the quest for justice in Nigeria, among other international considerations.
Read the full text of the press statement:
“PRESS STATEMENT BY THE IJAW NATIONAL CONGRESS (INC) ON THE RECENT JUDGMENT IN THE CASE OF MR. NNAMDI KANU
“IJAW HOUSE, YENAGOA, BAYELSA STATE, NIGERIA
“22 November, 2025
“The Ijaw National Congress (INC), the apex socio-cultural organization of the Ijaw people worldwide, has watched with keen interest the developments surrounding the recent life sentence passed on Mr. Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB).
“While we acknowledge the authority of the Nigerian judiciary and its right to adjudicate on matters before it, we are deeply concerned about the wider implications of this judgment. The INC, under my leadership, has consistently advocated for the strict adherence to the rule of law, constructive dialogue, and the pursuit of political solutions to address the deep-seated grievances that threaten our national fabric.
“In light of this, the INC hereby states as follows:
1. A Call for Calm and Non-Violence: We strongly urge the people of the South-East and all Nigerians to remain calm and law-abiding in the wake of this judgment. We must not allow this moment to be exploited by those who would lead us down a path of destruction and further bloodshed. The challenges we face require wisdom and intellectual engagement, not a descent into anarchy.
2. The Imperative of a Political Solution: The issues that gave rise to the agitations led by Mr. Kanu are fundamentally political in nature. They are rooted in long-standing feelings of marginalization, inequity, and a failure of national integration. A judicial ruling, no matter how definitive, cannot by itself extinguish these underlying causes. We therefore call on the Federal Government of Nigeria to immediately explore and deploy a political solution to this matter. True and lasting peace is achieved not by silencing voices but by addressing the legitimate concerns they raise.
3. A Test of Our Democracy and Federalism: This moment presents a critical test for our democracy. A nation that thrives on the principles of justice and equity must be cautious in the application of laws that can be perceived as punitive rather than corrective. We remind the government that the strength of our federation lies in its ability to accommodate diverse opinions and address grievances through dialogue and inclusive governance.
“The Ijaw people, having ourselves been at the receiving end of a state structure that often disregards the principles of true federalism, empathize with any group that feels alienated and marginalized. We stand for a Nigeria where justice and fairness are not mere slogans but the guiding principles of statecraft.
“We conclude by reiterating our steadfast commitment to a united, peaceful, and prosperous Nigeria, but one that is built on the foundations of justice, equity, and respect for all constituent nationalities
“Signed:
Professor Benjamin Okaba
President,
Ijaw National Congress (INC) Global”
Professor Okaba reaffirmed its commitment to a peaceful and united Nigeria founded on true justice, equity, and respect for all nationalities. It called on the government to demonstrate leadership by choosing dialogue over force and by addressing the root causes of agitations across the federation. The INC maintained that only inclusive governance and genuine political engagement can guarantee lasting stability and strengthen Nigeria’s democracy.
– Invites all critical stakeholders of the Niger Delta to be in attendance
By: Daire Perez,
The Ijaw Publishers’ Forum (IPF) has unveiled plans for the second edition of its annual Ijaw Media Conference, scheduled for December 11, 2025. The event themed “Safeguarding Oil and Gas Natural Resources for Future Generations in the Niger Delta,” will be held at KFT Place, beginning at 12 noon.
In a statement issued by the IPF National President, Comrade Ozobo Austin, the Forum emphasized that the conference seeks to deepen public awareness of the dangers posed by oil theft, unchecked resources extraction, and worsening environmental degradation across the region. According to the organisation, these activities continue to devastate local ecosystems, disrupt livelihood, and impede sustainable development.
The statement further disclosed that the 2025 planning committee led by Pastor Arex Akemotubo, has been tasked with the honorous task of organising a successful and impactful event. Other members of the committee includes Tare Magbei (Secretary), Ezekiel Kagbala, Sunday Daniel, Mike Ugedi, Doctor Kegbe, Sam Dogitimi, and Tam Okunbiri.
The Forum called on regional leaders, community stakeholders, and young people to collaborate with relevant authorities and security agencies in promoting efforts to safeguard the Niger Delta’s natural resources. It stressed the importance of sustained public engagement in protecting both the environment and the wellbeing of the people.
The IPF encouraged all stakeholders and members of the public to participate in the conference, noting that additional information will be provided in subsequent updates.