The 2025 budget, presented by President Bola Ahmed Tinubu to the National Assembly on Wednesday, has allocated N15.81 trillion for debt repayment.
The National Security and Planning Department received the lion’s share of the N47.9 trillion budget, which President Tinubu presented on Wednesday.
The President made this known while presenting the grand budget to the National Assembly. He said that N4.91 trillion was allocated for National Security and Defence; N4.06 trillion was allocated for infrastructure; N2.4 trillion was allocated for health, while education would get N3.5 trillion.
According to the President, revenue is projected at 34.8 trillion Naira, with 15.81 trillion Naira allocated for debt servicing, leaving a deficit of 13.0 trillion Naira.
The President added that inflation is expected to decline from 34.3% to 15%, while the dollar exchange rate is expected to decline from 1700 Naira/$ to 1400 Naira/$.
