The Director-General of Nigeria\u2019s Budget Office, Mr. Tanimu Yakubu, says that the N49.7tn budget of Nigerian Government for 2025 fiscal year is based on crude oil benchmark of $75 per barrel and a production target of 2.06 million barrels per day.<\/p>\n
In his breakdown of the budget, Yakubu said that the exchange rate of \u20a61,500 to $1 is projected in the budget while targeting a deficit of \u20a613.39 trillion (3.96% of GDP), which will be financed through domestic and external borrowings as well as innovative public-private partnership (PPP) arrangements.<\/p>\n
According to him, out of the \u20a649.7 trillion, \u20a65 trillion has been allocated to strengthen the armed forces, police, and intelligence agencies with the aim of restoring law and order and creating a conducive environment for economic growth.<\/p>\n
He explained that \u20a616 trillion will be invested in critical road projects, rail networks, power infrastructure, and housing, reducing transaction costs, stimulating investment and creating jobs.<\/p>\n
The budget, which is themed \u201cBudget of Restoration: Securing Peace, Rebuilding Prosperity\u201d, focuses on three key areas, Security, Revenue and Expenditure Projections and Reforms for Fiscal Sustainability and it is aimed at addressing the nation\u2019s pressing challenges while fostering inclusive and sustainable economic growth.<\/p>\n
Yakubu stated that in the revenue and expenditures projections, the federal government projects a total revenue of N36.35 trillion for 2025 which is anchored on improved non-oil revenue generation and includes expanded tax collections, customs duties, and independent revenue from government-owned enterprises.<\/p>\n
\u201cFurthermore over \u20a66 trillion has been earmarked for social services, targeting improved access to quality education, modernized healthcare infrastructure, and expanded social safety nets,\u201d he said, adding that the 2025 budget builds on critical reforms initiated by President Bola Tinubu\u2019s administration, including tax reform, fuel subsidy removal, and debt management.<\/p>\n
These reforms, he noted, aim to ensure fiscal sustainability and promote economic growth.<\/p>\n
\u201cBudget of Restoration\u201d is a declaration of intent, embodying the government\u2019s resolve to tackle insecurity, close infrastructure gaps, and empower the Nigerian people. The success of this ambitious proposal depends on disciplined implementation, transparency, and collaboration with all stakeholders,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Director-General of Nigeria\u2019s Budget Office, Mr. Tanimu Yakubu, says that the N49.7tn budget of Nigerian Government for 2025 fiscal year is based on crude oil benchmark of $75 per barrel and a production target of 2.06 million barrels per day. In his breakdown of the budget, Yakubu said that the exchange rate of \u20a61,500 […]<\/p>\n","protected":false},"author":1,"featured_media":9359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"APA News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,27],"tags":[3609,175],"class_list":["post-14572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-west-africa","tag-2025-budget","tag-nigeria"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=14572"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9359"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=14572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=14572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=14572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}