President Bola Ahmed Tinubu has proposed ₦15.81 trillion for debt servicing in the 2025 Appropriation Bill, which he presented to the joint session of the National Assembly on Wednesday.
The proposed budget, amounting to ₦47.9 trillion, prioritizes Defence and Security, which received the highest sectoral allocation of ₦4.91 trillion. Other key allocations include ₦4.06 trillion for Infrastructure, ₦3.5 trillion for Education, and ₦2.4 trillion for Health.
While highlighting the budget proposal, Tinubu stated that projected revenue for 2025 is ₦34.8 trillion, leaving a deficit of ₦13.0 trillion.
He also noted significant economic projections, including a reduction in inflation from 34.3% to 15% and an exchange rate adjustment from ₦1,700/$ to ₦1,400/$.
The 2025 budget proposal, the largest in the country’s history, aims to address critical sectors while tackling fiscal challenges.
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