The President, Bola Ahmed Tinubu, this Wednesday (18/12) presented the 2025 Appropriation Bill totalling 47.9 trillion to the joint session of the National Assembly.
The bill christened “Budget of Restoration” has a proposed revenue of 38.8 trillion naira and a deficit of 13. 13 trillion naira.
The Budget puts the oil price benchmark at 75 dollar per barrel with exchange rate of 1700 naira to dollar and 2.06 million barrel daily production of oil.
President Tinubu listed key priorities of his administration in 2025 to include defence and security 4.91 trillion naira, infrastructure 4.96 trillion naira, health 2.48 trillion naira and Education 2.5 trillion naira among others.
He expressed confidence that the 2025 budget will develop the economy and address challenges in all sectors as well as ensure macro economic stability, poverty reduction and development of human capital development .
According to the President, the 2024 budget invested heavily in the Nigerian Youths, facilitated social orientation and created employment opportunities for Nigerians, pointing out that the reforms have started to yield positive results.
In his remarks, the Senate President, Godswill Akpabio who presided over the joint session enumerated some landmark achievements of President Tinubu and commended him for the Tax Reform Bills currently before the National Assembly.
He therefore assured that the National Assembly will not hesitate to pass any reforms for the benefit of the nation.
Senator Akpabio noted that if the tax reform bills are passed, over one million Nigerians will be exempted from paying tax.
The Vice President Kashim Shettima, Speaker House of Representatives, Tajudeen Abbas were among top Government Officials that graced the occasion.
