President Bola Tinubu assured that the 2025 budget will boost human capital development, increase the volume of trade and investments, bolster oil and gas production, and get manufacturing sector humming again, and ultimately increase the competitiveness of our economy.
The N47.9 trillion 2025 budget, christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity, was presented to the joint session of the National Assembly , on Wednesday, December 18, 2024.
President Tinub stressed that his government does not intend to depart from this critical path to strengthen the Nigerian economy.
Tinubu emphasised that the objective of his government was to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.
The President said the reforms his government instituted are beginning to yield results, adding that Nigerians would soon experience a better and more functional economy.
He explained that the journey of economic renewal and institutional development, which commenced 18 months ago as a nation, was very much underway. Tinubu noted that while it wasn’t a journey the country chose, his government had to embark on it for Nigeria to have a real chance at greatness.
He said: “The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices.
They will not be in vain. And we must keep faith with the process to arrive at ourcollectively desired destination.“We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.”