Tinubu’s Trillion-Naira Gamble: Will This Budget Save Nigeria or Break the Bank?
President Bola Tinubu has presented Nigeria's N47.9 trillion 2025 budget, dubbed the "Budget of Restoration: Securing Peace and Rebuilding Prosperity," emphasizing national collaboration in economic recovery. The proposed budget prioritizes key sectors including defense, infrastructure, health, and education. It sets a fiscal deficit target of 3.89 percent of GDP, totaling N13 trillion, which exceeds the Fiscal Responsibility Act's 3 percent threshold. To finance this, the government plans to enhance tax collection and improve customs efficiency. Budget highlights include: Defense: N4.91 trillion (10% of total budget), a 27.5% increase aimed at modernizing military capabilities and improving personnel welfare. Healthcare: N2.48 trillion, a 50% increase to revitalize medical infrastructure and healthcare services. Education: N3.52 trillion, with N825 billion dedicated to educational infrastructure, representing a 49.15% budget increase. Infrastructure: N4.06 trillion was allocated to create economic opportunities and support national development. The budget […]