My govt wont burden future generations with reckless borrowing: Tinubu
President Bola Tinubu has signed the 2025 “Budget of Restoration” into law, emphasizing that discipline and diligence will guide its implementation. The N54.99 trillion budget, based on projected revenues, was endorsed at a ceremony attended by key government figures, including Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abass.
In his address, President Tinubu highlighted the progress made in restoring Nigeria’s economy, citing a 3.86% GDP growth in the last quarter of 2024. He also noted significant improvements in revenue collection, reduced fiscal deficit, and stabilized foreign exchange markets. Tinubu stressed that the budget would prioritize national security, infrastructure, human capital development, healthcare, and agriculture.
The President emphasized fiscal responsibility, ensuring that government spending aligns with actual revenue, while avoiding burdensome borrowing for future generations. He also promised that every government agency would be held accountable for efficient spending and value-for-money initiatives.
Senate President Akpabio, speaking at the event, expressed full support from the National Assembly for the implementation of the budget, acknowledging the challenging economic environment President Tinubu inherited.
Minister of Finance Wale Edun also lauded the collaborative effort between the executive and the National Assembly in passing the budget, marking it as a key step toward Nigeria’s economic recovery.
