Tinubu presents N47.9tn budget estimates to NASS
✓Defence/security – ₦4.91tn
✓ Infrastructure – ₦4.06tn
✓Education – ₦3.52tn
✓Health – ₦2.48tn
President Bola Ahmed Tinubu, 18 December, 2024, presented his second annual budget totalling N47.9tn to the 11th National Assembly (NASS) sitting in a joint session.
Christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity”, the presentation which started at 12:40 pm lasted for only 30 minutes.
Of the total estimates, ₦4.91tn is allocated to defence and security; ₦4.06tn to infrastructure; education gets ₦3.52tn; and health ₦2.48tn, among others, The Punch reports.
Tinubu disclosed that the targeted revenue inflow for 2025 is ₦34.82tn, while ₦15.8tn would be spent on debt servicing.
He said that the budget estimates has a deficit of ₦13.39tn, which would be funded from borrowing.
The budget proposals presentation came with some drama. The president had begun the presentation by saying, “In fulfilment to one of my constitutional duties and unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 budget to the joint session of the 11th National Assembly.”
Hearing him say, “11th National Assembly”, the legislators broke into a fit of guffaw, as some of them tried to correct the president telling him thi the current National Assembly is the 10th and not the 11th.
In a sharp verbal reflex, Tinubu asked, “10?”, which was affirmed by the lawmakers. He then remarked, “I wrote 11, which means you are all re-elected.”
