2025 budget: FG sets objectives, prioritises security
The Federal Government has outlined some of its 2025 budget’s major objectives with security identified as one of its top priorities.
The Director-General of Budget Office of the Federation, Mr. Tanimu Yakubu, gave the insight in Abuja yesterday at a meeting with budget officers on preparation of 2025 budget, using the Government Integrated Financial Management Information System Budget Preparation Sub-System, GIFMIS/BPS, for all ministries, departments, and agencies, MDAs.
He said security would be prioritised to create a conducive environment for capital accumulation in the country in the 2025 fiscal year.
His words: “The quality of our national budget has been a longstanding concern, with stakeholders often questioning the relevance, execution, and effectiveness of our budgetary proposals.
“Today’s training offers a critical opportunity for all ministries, departments, and agencies, MDAs, to reflect on their roles in the budget process. Together, we can ensure that our budget proposals for 2025 are not only robust and focused but also aligned with our national priorities.
“This is our moment to demonstrate to the Nigerian people our steadfast commitment to delivering a budget that genuinely meets their needs while upholding strict fiscal discipline.
“As we prepare the 2025 budget, I urge all MDAs to stay true to their mandates. Our executive budget proposals must be coherent and purpose-driven, embodying the government’s vision for security and development.
“Our priority must centre on security to foster capital accumulation, meeting investor expectations without bias and empowering our citizens through effective mobilization and efficient deployment of development resources.”
Yakubu disclosed that since his assumption of office in June, he had faced both challenges and opportunities in managing the nation’s fiscal resources.
“Today’s training represents a crucial step in addressing these challenges and ensuring that the 2025 budget aligns with the expectations of the Nigerian people,” he said.
The DG charged the budget officers to carefully study the 2025 budget call circular in order to avoid error in their proposals, while taking advantage of the technology available to them.
He said: “You hold the vital responsibility of transforming government priorities into actionable programs and projects. I encourage you to meticulously review your submissions to ensure they align with our overarching goal to safeguard the essential economic functions of producing, distributing and consuming goods and services.
“Let us approach this task with determination and a shared vision for a brighter future for Nigeria. The administration of President Bola Tinibu is traversing significant fiscal challenges, intensified by the dual issues of insecurity and limited resources that hinder our efforts to reverse economic decline.”
Our economy under pressure
“Our economy is under immense pressure from various directions – a volatile global market, suppressed oil revenues, rising debt servicing costs, and threatened primary production processes.
“In light of these pressing challenges, it has never been more critical for us to ensure that our budget is both focused and efficient. We are faced with tough decisions and the resources available to us must be strategically allocated.
“Together, let us rise to these challenges with determination and purpose, working to build a brighter future for all Nigerians.’’
Efficient resource allocation
Yakubu said that he was committed to implementing reforms in Budget Office that would ensure efficient resource allocation to critical sectors to help pull Nigerians out of poverty and significantly improve the quality of life of the average Nigerian.
“We are committed to implementing reforms that promote efficient resource allocation, address multidimensional poverty, and enhance our infrastructure to reduce the cost of doing business in our country.
“Achieving these ambitious goals requires the full cooperation of all stakeholders involved in the budget process. I urge each of you to collaborate as we navigate these challenging times.
“The journey ahead may demand sacrifices, but I am confident that, together, we can forge a path that benefits all Nigerians.
“Collaboration and synergy among the various MDAs are essential to our success. We must align our sectoral policies and programs with the Renewed Hope Agenda, which serves as a foundational strategy for realizing the National Development Plan.”
The GIFMIS Budget Preparation Subsystem Training Session, the DG explained, provided an invaluable opportunity to acquire the tools and knowledge necessary to enhance budgetary processes as the technology-driven system was designed to improve efficiency, eliminate bottlenecks and promote accountability.
