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President Bola Tinubu on Wednesday presented a national budget of N47.96 trillion for 2025 to the joint session of the National Assembly.<\/p>\n
The President said the budget, which he said was put together based on economic realities, would trigger prosperity in Nigeria in 2025 if implemented to the letter.<\/p>\n
According to him, the budget would consolidate on key polices of the Federal Government.<\/p>\n
Tinubu said Nigerians have shown resilience the face of economic challenges, hence, he believed that the 2025 budget would leverage on that spirit to drive economic growth.<\/p>\n
He emphasised that the the country under his watch has recorded improvements in infrastructure and security.<\/p>\n
\u201cWe do not intend to depart from the critical path to strengthen the economy. Just as I believe in the resilience of our economy to withstand the current challenges.<\/p>\n
\u201cI 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.<\/p>\n
\u201cThe 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 re-orientation form the core of the 2025 budget.\u201d<\/p>\n
Tinubu noted that the economic stimulus of the nation worked in 2024, as the economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.<\/p>\n
He further highlighted the growth in the economy by asserting that Nigeria\u2019s foreign reserve has hit nearly $42 billion, providing buffer against external shocks.<\/p>\n
\u201cOur rising exports are reflecting the current trade surplus, which now stands at N5.8 trillion, according to National Bureau of Statistics,\u201d he added.<\/p>\n
Sector debate on the budget by legislators in both chambers of the National Assembly is expected to commence immediately, baring any last minute change in plans.<\/p>\n
Meanwhile, the Senate President Godswill Akpabio says the Nigerian government will extend the life of the 2024 budget till June 2025.<\/p>\n
Akpabio made the announcement on Wednesday at the joint session of the National Assembly.<\/p>\n
He stated that the process to extend the budget is ongoing, to allow the full implementation of the capital component of the budget.<\/p>\n
\u201cGiven these great achievements, we have deemed it necessary to extend the live of the 2024 budget to June 30, 2025.<\/p>\n
\u201cThe enabling law for this extension has already been put in place by this patriotic Assembly, as a testament to our appreciation for the great performance of the budget, ensuring we build upon your momentum,\u201d Akpabio said.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Bola Tinubu on Wednesday presented a national budget of N47.96 trillion for 2025 to<\/p>\n","protected":false},"author":1,"featured_media":44767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-44766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n