The President of the Senate, Godswill Akpabio, has called on lawmakers and stakeholders responsible for the N49.74 trillion 2025 budget to prioritise the welfare of Nigerians.
He emphasised that the final deliberations must align with the hopes and aspirations of citizens and fulfil the promises made by President Bola Tinubu’s administration.
Speaking at the Stakeholders Public Hearing/Interactive Session on the 2025 Appropriation Bill in Abuja, Akpabio stressed the importance of collaboration between the National Assembly and the Executive while ensuring the interests of ordinary Nigerians remain central.
“Together, we must ensure that this budget is not a mere ledger of revenue and expenditures but a living document that prioritises the welfare of every Nigerian,” Akpabio said. He highlighted the transformative power of budgets in addressing inequalities, fostering economic growth, and fulfilling national priorities.
Akpabio also underscored the importance of public participation, noting, “No budget, no matter how meticulously crafted, can succeed without the active participation and ownership of the people. As an African proverb wisely reminds us, ‘The man who uses a spoon with his neighbour does not eat alone.’”
The Senate President assured that the National Assembly would uphold accountability and transparency, ensuring that every naira in the budget is well spent. “This budget is our collective responsibility. Its success depends on our shared determination to demand transparency, embrace accountability, and ensure its faithful implementation,” he added.
Akpabio expressed optimism about the potential of the 2025 budget to serve as a tool for national restoration and transformation.
Chairman of the Senate Committee on Appropriation, Senator Solomon Olamilekan Adeola, highlighted key allocations in the 2025 Appropriation Bill, describing them as reflective of the government’s commitment to rebuilding Nigeria.
– Defence and Security: ₦4.91 trillion (9.9% of the total budget) is allocated to tackle insecurity and strengthen national defence, law enforcement, and community-based security initiatives.
– Infrastructure Development: ₦4.06 trillion (8.16%) will focus on energy, transport, and public works to boost trade, productivity, and attract private sector investments.
– Education: ₦3.52 trillion (7.1%) is earmarked to enhance access to quality education and prepare the workforce for global competitiveness.
– Health: ₦2.48 trillion (5.0%) is allocated to improve healthcare systems, reduce maternal and child mortality, and bolster pandemic preparedness.
“These investments are central to fostering a healthier, more productive population capable of driving economic growth,” Adeola noted.
The Appropriations Committee assured strict monitoring of the economic assumptions underpinning the budget, which include:
– Exchange rate: ₦1,500/$1
– Crude oil benchmark: $75 per barrel
– Crude oil production: 2.06 million barrels per day
– Inflation: Projected to decline from 27.85% in 2024 to 15% in 2025
Senator Adeola stated, “Given the importance of these economic variables to the 2025 budget, the Appropriations Committee would engage the relevant MDAs and other stakeholders to determine their feasibility and ensure effective implementation throughout the year.”
The Senate reaffirmed its commitment to transparency, collaboration, and delivering a budget that addresses national priorities and the welfare of Nigerians.
