Tinubu presenting the budget
President Bola Tinubu had to dig deep into his wit box to smartly cover up a gaffe during his 2025 N49.7 trillion budget presentation on Wednesday.
The president had in an obvious slip referred to the 10th Assembly as 11th Assembly, a blooper that caused a stir among the lawmakers.
He had prefaced the budget presentation thusly: “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,”
This drew a loud laughter from the lawmakers with some making effort to correct Mr President that it was the 10th Assembly and not the 11th as wrongly tagged.
To this the President retorted: , “10?”, and on noticing the affirmation from the lawmakers, he added; “I wrote 11 which means you are all re-elected.” This drew an even louder ovation from across all party faithful.
Highlights of the 2025 Budget Allocations include:
Defence and Security: N4.91 trillion
Infrastructure: N4.06 trillion
Health: N2.48 trillion
Education: N3.52 trillion
Debt servicing N15.81 trillion
Christened the ‘Budget of Restoration’, the President said the budget will inflation, forex crisis and create for jobs within the system.
He said, “The 2025 budget seeks to restore macro-economic stability enhance the business environment, foster inclusive growth, employment and poverty reduction, promote equitable income distribution and human capital development.”
The President pegged crude oil production at 2.06 million barrels per day for 2025. He also projected that the importation of finished petroleum products would reduce in 2025 while the exportation of refined petroleum products would increase.
