In the course of presenting the 2025 budget to the National Assembly, President Tinubu mistakenly referred to the assembly as the "11th" rather than the "10th." When lawmakers rectified this error, he humorously suggested that writing "11th" indicated their reelection, eliciting a standing ovation. This lighthearted exchange emphasized the amicable rapport between the president and the lawmakers during this vital budget presentation.
The budget for 2025, which totals ₦47.96 trillion, delineates substantial allocations across essential sectors: Defense and Security will receive ₦4.91 trillion to bolster national security; Education is set to acquire ₦3.52 trillion aimed at enhancing educational infrastructure and resources; Health is allocated ₦2.48 trillion to fortify healthcare services; and Infrastructure will benefit from ₦4.06 trillion dedicated to development projects.
This budget intends to tackle pressing economic issues, including the objective of reducing inflation from 34.6% to 15%, stabilizing the exchange rate and boosting crude oil production. However, with ₦15.81 trillion earmarked for debt servicing, the budget anticipates a deficit of ₦13 trillion, which translates to 3.89% of GDP.
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