In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget. Government expenditure in the same year is projected to be N47.90 trillion, including N15.81 trillion for debt servicing. A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.

The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).

These projections are based on the following observations:

o Reduced importation of petroleum products alongside increased export of finished petroleum products.

o Bumper harvests, driven by enhanced security, reducing reliance on food imports.

o Increased foreign exchange inflows through Foreign Portfolio Investments.

o Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.

KEY PRIORITIES: REBUILDING NIGERIA

Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.

Highlights of the 2025 Budget Allocations:

• Defence and Security: N4.91 trillion
• Infrastructure: N4.06 trillion
• Health: N2.48 trillion
• Education: N3.52 trillion

Debt servicing N15.81 trillion