Tinubu’s 2025 Budget Proposal: Between Expectations and Reality
By Aliyu Jamil Gumel
President Bola Tinubu’s proposed 2025 budget, aptly titled the “Budget of Restoration,” has captured the attention of Nigerians, stirring a mix of optimism and apprehension. With a record-breaking valuation of ₦49.7 trillion, the fiscal blueprint sets out to address longstanding challenges, prioritising security, infrastructure, and economic stability.
However, amidst public scrutiny and rising economic concerns, the question remains: Can this ambitious budget deliver on its promise to restore Nigeria’s economic glory? The budget reflects a notable increase from the previous fiscal year, underscoring Tinubu’s commitment to tackling systemic weaknesses that have stifled growth for decades.
At its heart lies a strategic focus on three pivotal areas. First, addressing insecurity by boosting national defense and law enforcement. Second, revitalising critical infrastructure such as roads, power, and housing to stimulate economic activities.
Finally, promoting macroeconomic stability through policies aimed at reducing poverty, fostering employment, and enhancing fiscal balance. Despite its promise, the budget has not escaped criticism.
Mohammed Bello El-rufa’i, member representing Kaduna North Federal Constituency called for the elimination of wasteful recurrent expenditures on items like vehicles and furniture. He argued that funds channeled into non-essential spending should instead bolster vital sectors like education, healthcare, and infrastructure.
“Nigeria cannot afford to allocate funds for new vehicles and furniture annually while essential services remain underfunded,” he stated, urging for greater fiscal responsibility.
Security and infrastructure development, two of the budget’s central pillars, remain critical to Nigeria’s progress. Significant investments are expected to improve public safety and modernise infrastructure, fostering economic expansion and regional development.
However, achieving these goals comes with a price. With projected revenues of ₦34.8 trillion, the government faces a ₦13 trillion deficit, which it plans to finance through domestic and foreign borrowing—an approach that raises concerns over Nigeria’s already substantial debt burden.
Closer examination of the budget reveals contentious allocations that have sparked public debate. For instance, ₦7.44 billion is set aside for President Tinubu’s travel and refreshments, with ₦6.14 billion dedicated to international trips.
Vice President Kashim Shettima’s office will receive ₦1.9 billion for similar purposes. While these allocations are standard for executive operations, they have drawn criticism for appearing excessive, especially at a time when many Nigerians are grappling with economic hardship.
Amid these challenges, Nigerians hold high expectations for the budget’s potential impact on their lives. The public hopes for transformative investments in education, healthcare, transportation, and utilities—sectors that directly influence social welfare and national development.
Entrepreneurs and SMEs are particularly optimistic about job creation, innovation, and youth-focused initiatives that can drive economic growth. However, public trust hinges on the government’s ability to ensure transparency, accountability, and efficient resource management.
The risks associated with the 2025 budget are significant. Debt servicing alone will consume ₦15.8 trillion, raising concerns about fiscal sustainability and leaving limited room for other priorities. Increased public spending could exacerbate inflation, further straining households already burdened by high living costs.
Additionally, external factors such as fluctuating oil prices and global economic volatility could threaten revenue projections and disrupt implementation..Yet, the budget also presents critical opportunities.
Efforts to diversify the economy by expanding non-oil revenue sources, particularly through agriculture, manufacturing, and technology, could strengthen Nigeria’s economic resilience. Enhanced security funding may restore stability in conflict-affected regions, creating an enabling environment for investments and development.
Furthermore, targeted infrastructure projects hold the promise of boosting productivity, enhancing commerce, and improving living standards for citizens. The “Budget of Restoration” is more than just a financial plan; it is a test of Tinubu’s leadership and vision for a better Nigeria.
Its success depends on effective implementation, disciplined spending, and active engagement with stakeholders across all levels. As the National Assembly deliberates on its provisions, Nigerians must remain vigilant, advocating for policies that prioritise the collective good over wasteful expenditures.
The 2025 budget represents a defining moment for Nigeria, offering a chance to reset its economic trajectory. Whether it succeeds in restoring the nation’s glory or deepens its challenges will depend on how well it navigates the hurdles ahead. For now, the nation watches, hopes, and prepares for what lies ahead.
Aliyu Gumel, a PRNigeria Fellow, can be reached at [email protected]
