National
2025 Appropriation Bill: FG targets N34.82trn revenue
President Bola Tinubu says the Federal Government targets N34.82 trillion revenue to fund the N47.9 trillion 2025 budget.
Tinubu stated this on Wednesday in Abuja while presenting the 2025 Appropriation Bill to joint session of the National Assembly.
The News Agency of Nigeria (NAN) reports that the N47.9 trillion budget was christened “Budget of Restoration, Securing Peace and Rebuilding Prosperity.”
Tinubu said that the budget reinforced his administration’s roadmap to securing peace, prosperity and hope for the greater future of Nigerians.
He said that the Federal Government’s expenditure was projected to be N47.9 trillion, including N15.81 trillion for debt servicing.
“A total of N13.08 trillion or 3.89 per cent of GDP will make up the budget deficit,” he said.
The president listed highlights of the 2025 budget allocations to include: defence and security: N4.91 trillion; infrastructure: N4.06 trillion; Health: N2.48 trillion and Education: N3.52 trillion.
“This is an ambitious but necessary budget to secure our future. The budget projects inflation will decline from the current rate of 34.6 per cent to 15 per cent next year.
“The exchange rate will improve from approximately N1,700 per dollar to N1,500 and a base crude oil production assumption of 2.06 million barrels per day,” he said.
Tinubu said that the projections were targetted at reduction of importation of petroleum products, alongside increased export of finished petroleum products.
According to him, they are also targetted at bumper harvests, driven by enhanced security, reducing reliance on food imports and increased foreign exchange inflows through foreign portfolio investments.
“Others are: higher crude oil outputs and exports, coupled with a substantial reduction in upstream oil and gas production costs,” he said.
The president said that the budget was a demonstration of government’s commitment to stabilising the economy, improving lives and repositioning the country for greater performance.
He also said the budget sought to consolidate the key policies instituted to restructure the economy, boost human capital development, increase the volume of trade and investments and bolster oil and gas production.
The budget, he said, would equally get the manufacturing sector running again and ultimately increase the competitiveness of the economy.
The president said that it was cheering that the economy was responding positively to stimulus.
He said that the objective was to further stimulate the economy through implementation of targetted fiscal stimulus packages via public expenditures and specific non-inflationary spending.
“The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.
“Global economic growth for the outgoing year 2024 was projected at 3.2 per cent and, against predictions, our country made significant progress.
“Our economy grew by 3.46 per cent in the third quarter of 2024, up from 2.54 per cent in the third quarter of 2023.
“Our foreign reserves now stand at nearly 42 billion dollars, providing a robust buffer against external shocks.
“Our rising exports are reflected in the current trade surplus, which now stands at N5.8 trillion according to the National Bureau of Statistics. (NBS).
“These clear results of gradual recovery, among others, reflect the resilience of our economy and the impacts of deliberate policy choices we made from the outset,” he said.
Tinubu further stated that his administration attained remarkable milestones in implementing the 2024 budget, adding that N14.55 trillion was generated in revenue, meeting 75 per cent of its target as of the third quarter.
He said that the 2025 budget would to restore macro-economic stability, enhance the business environment, inclusive growth, employment and poverty reduction as well as promote equitable income distribution and human capital development.
“Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the ‘Renewed Hope Agenda’ and its developmental objectives,” he said.
The president said that the budgetary allocations underscored the administration’s strategic priorities, particularly in advancing the renewed hope agenda and achieving its developmental objectives.
“As we embark on implementing the 2025 budget, our steps are deliberate, our decisions resolute and our priorities clear.
“This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing the critical sectors essential for the growth and development we envision,” he said.
Tinubu said that the federal government had significantly increased funding for the military, paramilitary and the police force to secure the country, protect the borders and consolidate government’s control over the nation’s territory.
“Government will continue to provide our security forces with the modern tools and technology they need to keep us safe.
“Boosting the morale of our men and women in the armed forces will remain our government’s top priority.
“Our administration will continue to empower them to defeat insurgency, banditry and all threats to our sovereignty.
“Our people should never live in fear, whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses and rebuild our communities,” he said.
Tinubu also said that government was accelerating investments in energy, transport and public works through leveraging private capital.
“We hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar coastal highway and Sokoto-Badagry highway.
“This will have a huge impact on the lives of our people and accelerate economic output,” he said.
On human capital development, the president said that his administration had so far disbursed N34 billion to more than 300,000 students through Nigeria Education Loan Fund (NELFund).
“In the 2025 budget, we have made provision for N826.90 billion for infrastructure development in the educational sector.
“This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.
“We are convinced that universal health coverage initiatives will strengthen primary healthcare systems across Nigeria.
“In this way, we have allocated N402 billion for infrastructure investments in the health sector in the 2025 budget and another 282.65 billion naira for the basic health care fund.
“Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians.
“This is consistent with the federal government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency,” he said.
He said that government was supporting farmers with funding and inputs to reignite productivity and revitalise agriculture.
“Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently and none of our citizens will have to go to bed hungry.
“As your president, I remain committed and resolute to continue to lead the charge. This 2025 budget proposal lays the foundation for peace, prosperity and the much-needed hope.
“It is the plan through which a Nigeria where every citizen can dream, work and thrive in safety can be achieved,” the president said. (NAN)
Retired Comptroller General of the Nigerian Immigration Service (NIS), David Shikfu Parradang, has been killed by kidnappers in Abuja.
Intelligence sources told Zagazola Makama that Parradang was abducted in Area 1, Abuja, in the early hours of Tuesday after being trailed from a bank where he had withdrawn money. According to intelligence sources, the assailants took the cash from him before eventually killing him.
The tragic incident has raised fresh concerns over security in the Federal Capital Territory, particularly regarding the increasing cases of kidnappings and targeted attacks.
Parradang, who served in the NIS for over 30 years, held various positions across the country, including Comptroller General and postings in Kano, Lagos, Kwara, Enugu, and the Federal Capital Territory. He also attended several professional courses both within Nigeria and internationally.
In recognition of his service, he was awarded the national honour of Officer of the Order of the Federal Republic (OFR) and was a distinguished graduate of the National Institute for Policy and Strategic Studies (NIPSS).
Security agencies have reportedly launched an investigation into the circumstances surrounding his abduction and killing, with efforts ongoing to apprehend the perpetrators.
Concerned youth organisations in Nigeria, Arewa Youths for Good Governance, South-West Youths Development Initiative, Northern Youths for justice and Igbo Youths Progressive Forum have demanded the immediate resignation of the Senate President, Godswill Akpabio.
This is coming amid the sexual harassment allegation against the Senate President by a female lawmaker, Senator Natasha Akpoti-Uduaghan.
The allegation, it could be recalled, has dominated the airwaves in the past few days.
In a joint statement made available to journalists on Tuesday, the youths groups said they had expected the Senator to step aside during the Senate plenary on Tuesday.
The statement was signed by the coordinators of the groups- Ismail Jibril, Kehinde Sikiru, Ladoja Kehinde and Jonathan Ezeme.
They declared that: “Nigerians were last Friday treated to an embarrassing news involving the President of the Senate, Senator Godswill Akpabio, with a mind boggling allegation coming from Senator Natasha Akpoti-Uduaghan.
“Ordinarily, one would have wished away this kind of allegation with a wave of the hand. However, this should not be the case.
“We say this with every sense of responsibility considering that this is not the first time Senator Akpabio is being accused of making such advances on women.
“We have not forgotten how a former Acting Managing Director of the Niger Delta Development Commission (NDDC), Joy Nunieh, claimed Akpabio sexually harassed her. The now Senate President was then Minister of Niger Delta.
“Coincidentally, it was on the same television station where Natasha made this claim that Nuineh granted an interview and leveled allegations against Akpabio.
“She said on national television: Why did he not tell Nigerians that I slapped him in his guest house at Apo? I am the only Ogoni woman, the only Nigerian woman that has slapped him. I slapped him because of his plan B. Since he couldn’t get me to take that money, he thought that he could come up on me. He didn’t know that I’m a Port Harcourt girl. Port Harcourt girls are not moved by money…by somebody telling me that he will make me the substantive MD. Akpabio’s meetings with me were either at Apo or Meridien…Yes, I am accusing him of sexual harassment.”
“Five years after, Senator Natasha has come up to level the same allegation against the Senate President, a development that has brought not just the National Assembly to disrepute but the entire Nigerians.
“We have waited for days, thinking that the Senate President will toe the honourable path, which is to resign; this is the least expected in a sane clime. Unfortunately, he has clung on to his seat, pretending as though nothing had happened.
“This is totally unacceptable as there is no way he can be a judge in his own case. The Senate President cannot preside over a Senate that will have to interrogate the allegations against him. The moral burden is huge.
“Should Akpabio fail to resign, we urge the members of the National Assembly to redeem themselves by impeaching him. This is the only way to restore confidence in the parliament. The National Assembly, known as the Hallowed Chamber, cannot be left to be charmed by someone who has heavy allegations hanging on him. This touches on the root of the nation’s democracy- the parliament.
“It is only when Akpabio has stepped aside that both him and Natasha can appear before a probe committee, and have fair hearing, and justice seen to have been served. Anything to the contract will only lead to more witch-hunt of the female Senator.”
By Amos Tauna, Kaduna
The chairman, Christian Association of Nigeria (CAN) in the 19 Northern states and the Federal Capital Territory (FCT), Rev. John Joseph Hayab, has called on well-meaning Nigerians to intervene in the feud between the President of the Senate, Godswill Akpabio and Senator Natasha Akpoti-Uduaghan of Kogi Central.
ln a telephone interview, the cleric said that as a responsible religious body, CAN considers the feud “shameful and unfortunate”, calling on Nigerians to intervene to ensure sanity in the National Assembly.
According to the chairman, “There is a need for elders to intervene. Akpabio and Natasha as well as the entire members of the National Assembly are honourable members that should be accorded respect, Nigerians hold them in high regards. The members of the National Assembly should also do whatever at their disposal to ensure they address the matter to give peace a chance.”
He added, “We should show that we are responsible people in addressing any matter that wants to cause any problem, it is not to find fault but to mend fences and move forward as a nation.”
Hayab stated that no one should toy with an allegation of sexual harassment, saying that Nigeria has gone past such things because Nigeria has gone past the era when people claim they are underdogs or minorities.
He urged the media not to fuel the feud in their reportage, saying that doing so would only further confuse and divide Nigerians.
The CAN chairman urged the members of the National Assembly to channel their energies toward making the lives of Nigerians better with their official engagements, having passed the 2025 national budget.
He expressed CAN’s appeal for all groups involved or affected by the Akpabio-Natasha feud to sheath their swords and refrain from making comments capable of further dividing Nigerians along gender or regional lines, stressing that Nigerians should use their as a source of strength to achieve things that are to the overall interests of Nigerians.
Hayab advised, “Let’s give peace a chance.”