President Bola Tinubu presented the 2025 budget proposal to a joint session of the National Assembly on December 18.

The proposed budget, totaling N47.9 trillion, aims to reduce inflation from its current rate of 34.6% to 15% and improve the exchange rate from N1,700 to N1,500 per dollar.

President Tinubu outlined the strategic measures underpinning these projections, stating, "The budget projects inflation will decline from the current rate of 34.6% to 15% next year while the exchange rate will improve from approximately N1,700 per dollar to N1,500."

He emphasized that these goals are based on reducing petroleum product imports, increasing exports of finished petroleum products, and achieving bumper harvests through enhanced security measures.

The budget allocates substantial funds to critical sectors, with N4.91 trillion earmarked for defense and security, N4.06 trillion for infrastructure, N2.4 trillion for health, and N3.5 trillion for education.

These allocations reflect the government's commitment to stabilizing the economy and fostering national growth.

Nigerians have been grappling with high inflation and currency volatility, as highlighted by the National Bureau of Statistics' report of a 34.60% headline inflation rate in November.

The 2025 budget proposal seeks to address these pressing issues and lay the groundwork for sustainable economic development.