In a bid to drive economic growth and development, President Tinubu’s 2025 budget proposal has allocated significant funds to key sectors.
A closer look at the budget reveals a focus on defence and security, infrastructure development, education, and healthcare.
Defence and Security: N4.91 Trillion
The defence and security sector received the largest allocation of N4.91 trillion.
This significant investment according to the President is aimed at strengthening the military and paramilitary forces, enhancing border security and control, and combating insurgency, banditry, and other security threats.
According to the budget proposal, the allocation will be used to provide modern tools and technology to security forces, ensuring they are equipped to tackle the country’s security challenges.
Infrastructure: N4.06 Trillion
The Infrastructure sector is the second-highest priority.
The Sector received an allocation of N4.06 trillion.
With this investment, President aims to accelerate growth and development by enhancing energy infrastructure, developing transportation networks, and improving public works.
The budget proposal highlights the government’s plan to leverage private capital to complete key infrastructure projects, ensuring that Nigeria’s infrastructure needs are met.
Education: N3.52 Trillion
The education sector received an allocation of N3.52 trillion, demonstrating government’s commitment to human capital development.
This investment President Tinubu says will be used to improve educational infrastructure, support students through initiatives like the Nigeria Education Loan Fund (NELFUND), and enhance teachers training and development programs.
Health: N2.48 Trillion
The health sector received an allocation of N2.48 trillion, reflecting the government’s focus on improving healthcare delivery
This investment will be used to strengthen primary healthcare systems, improve access to quality healthcare services, and enhance healthcare infrastructure.
The budget proposal also highlights the government’s plan to support initiatives like the Basic Health Care Fund and the procurement of essential drugs for public healthcare facilities.
The agriculture sector receives a significant allocation, aimed at increasing agricultural production, supporting farmers with funding and inputs, and ensuring food security. The government recognizes that food security is non-negotiable and is taking bold steps to ensure that every Nigerian can feed conveniently.
The 2025 budget proposal is predicated on an oil benchmark of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar.
Overall, President Tinubu’s 2025 budget proposal demonstrates a commitment to driving economic growth and development, while also addressing critical sectors like defence and security, infrastructure, education, and healthcare.
Editor: Anoyoyo Ogiagboviogie
