Nigeria Is On Track For Recovery, Budget Is The Blueprint For A Brighter Future – Tinubu

President Bola Tinubu has boldly stated that Nigeria is on the path to recovery, regardless of the criticism that has followed his economic policies.

Speaking during his first presidential media chat in Lagos on Monday, the president reassured Nigerians that the country’s recovery journey is already underway, backed by the 2025 budget which he described as a “budget of restoration of hope.”

“We can’t finish the job in one calendar year,” Tinubu said. “But Nigeria is moving forward regardless of critics. This is a budget of restoration of hope, and we are on the path to recovery.”

READ ALSO: I’m Not Prepared To Bring Down The Size Of My Cabinet – President Tinubu

Tinubu’s remarks come just days after he presented the “Restoration Budget” to the National Assembly.

The N47.9 trillion budget aims to secure peace and build prosperity, with significant investments in critical sectors such as defense, infrastructure, education, and healthcare.

The president commended Nigerians for their resilience, noting that the country has faced many challenges, yet continues to show strength in the face of adversity.

The proposed budget includes a revenue target of N34.82 trillion and a deficit of N13 trillion, which Tinubu referred to as “ambitious but necessary.”

He emphasized that the budget is focused on long-term economic stability, with strategic allocations such as N4.91 trillion for defense and security, N4.06 trillion for infrastructure, N3.5 trillion for education, and N2.48 trillion for health. Debt servicing has been pegged at N15.81 trillion.

Tinubu also shared his economic projections for 2025, forecasting a reduction in inflation from the current 34.6% to 15%, and an improvement in the exchange rate from N1,700 to N1,500 per US dollar.

Also, the government is aiming for a crude oil production rate of 2.06 million barrels per day.

“The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society,” Tinubu said, further asserting that the government’s economic strategies will ensure sustainable growth.

Despite the ambitious targets, Tinubu’s government is firm in its resolve, with no plans to be deterred by skepticism.

The 2025 budget is already under review by the National Assembly, with both the Senate and House of Representatives passing it for second reading.