President Tinubu has presented the 2025 budget of N49.7 trillion, prioritizing defence, infrastructure, education, and healthcare to address key national challenges.
As it is to be expected, the president has titled it as the Budget of Renewed Hope, even when the highest percentage of the budget has been allocated to defence.
Defence and Security: The highest allocation of N4.91 trillion (9.88%) is set for defence and security, focusing on modernizing military equipment, improving border control, and tackling insurgency and banditry. Clearly arming the military to combat domestic violence does not indicate renewed hope.
Also, it is argued by some analysts that allocating the lion’s share to defence does not represent sound judgement as it seems to address the symptom rather than the root cause of insecurity in the country. Even the lay man on the street can hazard a sound guess that poverty is at the root of insecurity in the land.
This explains why the leadership of the Nigerian Armed Forces is altering their strategy of war by adopting a soft approach rather than kinetic means.
Kidnapping, farmers/herders clashes, cattle rustling and banditry are some of the major forms of violent crimes bedeviling Nigeria. Moreover, these challenges are more prevalent in the north where poverty is most pervasive.
This trend has been amply established by the recent NBS Survey which has attributed most violent crimes in Nigeria to poverty.
Infrastructure Development: With N4.06 trillion or 8.17% allocated, infrastructure aims to boost the energy sector, expand transportation networks, and complete major public works projects using private investments.
Education: Allocated N3.52 trillion or 7.08% ,the government plans to enhance school facilities, fund the Nigeria Education Loan Fund, and invest in teacher training programs.
Healthcare: The N2.48 trillion or 4.99 percent set aside for health will improve primary healthcare services, strengthen infrastructure, and support initiatives like the Basic Health Care Fund.
The budget is anchored on an oil benchmark of $75 per barrel, production of 2.06 million barrels daily, and an exchange rate of ₦1,400 to the dollar, reflecting a focused approach to economic recovery and stability.
This part of the budget however, does not sit well with many analysts who challenge the reality of these assumptions.
