3 hours ago
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- reassures on commitment to securing future, dividends for all Nigerians
- Your reforms are working, NASS will support you all the way
From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has signed the 2025 Appropriation Bill into law, saying it marks a significant step towards securing peace and rebuilding prosperity in Nigeria. The budget, valued at ₦54.99 trillion, is themed “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” aligning with Tinubu’s Renewed Hope Agenda.
“For 2025 budget or transformation, empowering people, building a resilient future, we affirm our commitment to securing future, rebuilding prosperity and ensuring that every Nigerian shares in the dividends of governance,” Tinubu stated after signing the budget.
He acknowledged that the past year has tested Nigeria’s resolve amid significant economic challenges. He noted that the removal of fuel subsidies and foreign exchange liberalization had created unprecedented difficulties for citizens, leading to soaring inflation and rising costs of living.
Tinubu emphasized that despite these trials, his administration has demonstrated resilience through economic discipline and strategic reforms. He stated, “The past year tested our resolve but through the economic discipline and strategic reforms, we achieved what many deemed impossible.”
The President highlighted positive indicators such as a GDP growth rebound to 3.86% and increased revenue, which he believes signal a turning point for Nigeria.
The President pointed to key economic milestones achieved over the past year, including a rebound in GDP growth to 3.86%, an increase in national revenue to N21.63 trillion, and a significant reduction in the fiscal deficit from 6.2% in 2023 to 4.217%. He described these achievements as proof of Nigeria’s resilience and determination to rebuild prosperity.
Tinubu also praised Nigerians for their unity and perseverance during such trying times. “There are no dust in our faces and no tears in our cheeks. We worked together as brothers and sisters, collaborative Nigerians, after the initial turbulence,” he said. “Today, we see a light at the end of the tunnel.”
While acknowledging that challenges remain, Tinubu reaffirmed his administration’s commitment to empowering citizens, building a resilient future, and ensuring that every Nigerian benefits from governance. “We can only promise to work harder,” he said.
The President extended his gratitude to the National Assembly for their collaboration in passing the budget, emphasizing that their efforts have given hope to Nigerians. “We are building the same country,” he said. “Today I can smile because you have given hope to our people.”
President of the Senate Godswill Akpabio his remarks commended President Tinubu’s economic reforms, emphasising the challenging state of Nigeria’s economy when Tinubu took office.
He commended the President’s leadership, highlighting his experience in transforming economies. Akpabio noted, “I knew that with your experience in Lagos State when you met an economy of N600 million, you were able to put the indices on country and today, Lagos is booming with over N50 billion a month as IGR.”
Akpabio also praised Tinubu’s determination and vision, recalling a conversation where Tinubu expressed his commitment to turning the country around. “I saw strength, character, determination and unwavering commitment,” Akpabio said.
Regarding the removal of fuel subsidies, the Senate noted, “You started rolling out your policies. By the time you removed the fuel subsidy which many had failed in over 40 years, I came back to you, and asked Mr President don’t you want reelection in 2027, you asked why? I said how can you do this? Let’s remove it gradually, you said I met fuel subsidy that was no longer available.”
Akpabio emphasised the success of Tinubu’s reforms, stating, “Today Nigeria is afloat even without petroleum products coming in as income… Your reforms are working.” He also commended the president’s tax reform initiatives as “groundbreaking” and assured that the National Assembly supports policies aimed at alleviating Nigerians’ suffering.
He said: “So, your reforms are working. When you came to the National Assembly with a very ambitious budget of N49.7 trillion little did we know that working with your team we will discover other sources of brining revenue in and today, we about to make history by signing the largest budget in Nigeria since independence, N54.7 trillion so I say congratulations sir.
“We on this side of the aisle believe strongly that anything that can alleviate the sufferings of Nigerians, any Polycarp that you propose that can alleviate the suffering of Nigerians, be rest assured that the National Assembly, the both chambers will go with you, we are behind you because we know that you mean well for this country.
“You gave the budget to us in December, people may think we delayed but we went through it line by line, clause by clause to ensure we meet the aspiration not just of your administration but that of the entire nation.
“We here to say we done with it and we are here for you to assent to it and make it an Act of parliament and then we will go on oversight function to make sure and see what your ministers are doing. And any of them not doing well we will report the person to you.”
English (US) ·