CurrentReport Blog Members of the House of Representatives have expressed satisfaction with the 2025 Appropriation Bill of N47.9 trillion, presented by President Bola Tinubu to the National Assembly on Wednesday. They described the budget as a significant improvement over the 2024 fiscal plan, with major allocations aimed at boosting infrastructure, defense, health, and education.
Key Budget Allocations
The 2025 budget earmarks funds for critical sectors:
- N4.90 trillion for defense
- N4.06 trillion for infrastructure
- N3.52 trillion for education
- N2.48 trillion for health
Legislators Commend Bold Vision
Chairman of the House Committee on Defence, Rep. Benson Babajimi (APC-Lagos), praised the budget for its ambition and reformist agenda.
“It’s a huge improvement from last year’s budget. The president’s bold vision is evident in infrastructure projects like the Sokoto-Badagry expressway and Lagos-Calabar rail. These are game changers,” Babajimi stated.
He also highlighted the Renewed Hope Infrastructure Fund as a catalyst for transformative development, emphasizing the president’s focus on improving security, health, and education.
Babajimi noted that the National Assembly is committed to ensuring the budget is fully implemented, with Senate President Godswill Akpabio pledging “ruthless implementation” of the provisions.
Concerns Over Debt Servicing
While the budget has been largely praised, Rep. Abubakar Fulata (APC-Jigawa) expressed concerns over the N15 trillion allocated for debt servicing, describing it as less impressive.
Fulata also pointed out potential challenges with oil revenue:
“The current price of crude oil is hovering between $73 and $74 per barrel, yet the budget is predicated on $75 per barrel. This creates a deficit of about $1.5 per barrel, which may pose challenges to achieving revenue targets.”
He further emphasized the importance of peace in the Niger Delta to meet the projected production of 2.06 million barrels per day.
Challenges with Budget Timelines
Rep. Idem Unyime (PDP-Akwa Ibom) raised concerns about the January-to-December budget cycle, noting that while the budget was presented on time, its consideration may be delayed due to the Christmas holidays. He assured, however, that the National Assembly would pass the budget by the end of January 2025.
What This Means for Nigerians
The 2025 budget reflects President Tinubu’s focus on bold reforms and development, with major investments in infrastructure, security, health, and education. Despite concerns over debt servicing and crude oil revenue, legislators are optimistic about its transformative potential.
With the National Assembly pledging to work closely with the executive arm, Nigerians can look forward to the implementation of projects aimed at improving livelihoods and driving economic growth.
