Mixed reactions have trailed President Bola Ahmed Tinubu’s N49.7 trillion 2025 budget proposal to the National Assembly on Wednesday.
Charmingpro reports Tinubu presented a proposed total expenditure of N49.7 trillion for 2025 fiscal year, higher than the N30.94 trillion presented in 2024.
Analysis of the 2025 budget proposal showed that the President earmarked a chunk of the budget for Defence & security, Infrastructure, Education and Health, which stood at N4.91 trillion, N4.06 trillion, N3.52 trillion, N2.48 trillion, respectively.
The President based key assumptions in the budget proposal on a Gross Domestic Product growth of 4.6 percent, inflation to reduce to 15.75 per cent, exchange rate at N1,500 per dollar, oil production at N2.06 million barrels per day and crude oil price at $70 per barrel.
Also, the 2025 budget proposed a N36.36 trillion revenue target and N13.39 trillion budget deficit.
Reacting to the budget proposal, economists and financial analysts have identified the upsides and downsides of Tinubu’s presentation