Members of the House of Representatives have expressed their satisfaction with President Bola Ahmed Tinubu’s proposed N47.9 trillion 2025 budget, describing it as a significant improvement over the previous year. The Appropriation Bill, tagged the “Budget of Restoration,” was presented to a joint session of the National Assembly on Wednesday.
The budget allocates N4.90 trillion to Defence, N4.06 trillion to Infrastructure, N3.52 trillion to Education, and N2.48 trillion to Health, among other key sectors.
Rep. Benson Babajimi (APC-Lagos), Chairman of the House Committee on Defence, praised the budget’s ambition and focus on reform. He highlighted projects like the Sokoto-Badagry and Lagos-Calabar expressways as transformative infrastructure developments.
“This budget is a game-changer. It demonstrates the president’s mission and vision for Nigeria,” Babajimi stated. He also lauded the creation of the Renewed Hope Infrastructure Fund, expressing optimism about its potential to propel the nation forward.
Rep. Abubakar Fulata (APC-Jigawa) noted that while the budget assumptions were largely satisfactory, debt servicing costs, totaling over N15 trillion, remained a concern. He emphasized the need for stable crude oil production and peace in the Niger Delta to meet the projected 2.06 million barrels per day target.
However, Rep. Idem Unyime (PDP-Akwa Ibom) cautioned that the January-to-December budget cycle might face delays due to the upcoming Christmas holidays. He assured that the National Assembly would prioritize the budget’s passage by the end of January 2025.
Lawmakers expressed a collective commitment to ensuring the budget’s effective implementation, with Senate President Godswill Akpabio pledging a “ruthless” approach to enforcement.
The 2025 budget is seen as a bold step towards addressing Nigeria’s challenges while laying the foundation for economic growth and stability.
