President Bola Ahmed Tinubu arrived in Lagos on Wednesday afternoon to spend the Christmas and New Year holidays in his home state. He was warmly received at the Presidential Wing of the Murtala Muhammed International Airport by Lagos State Governor Babajide Sanwo-Olu, alongside other top government officials.
The President’s arrival follows his presentation of the N47.9 trillion 2025 budget proposal to a joint session of the National Assembly earlier in the day. The proposed budget, christened the “Budget of Restoration: Securing Peace, Building Prosperity,” outlines Tinubu’s administration’s vision for consolidating key policies aimed at restructuring and revitalizing Nigeria’s economy.
The budget is built on the following key economic parameters: oil price benchmark of $75 per barrel, domestic crude oil production of 2.06 million barrels per day, GDP growth rate of 4.6%, exchange rate of N1,400/$, and an inflation rate of 15.75%.
President Tinubu emphasized the priority sectors and their allocations as follows: defence and security (N4.91 trillion), infrastructure (N4.06 trillion), education (N3.5 trillion), and healthcare (N2.4 trillion). These allocations, according to Tinubu, are tailored to address pressing national challenges, particularly the security of lives and property, infrastructural development, education, and healthcare delivery.
During his budget presentation, President Tinubu urged lawmakers and Nigerians to join hands in addressing the nation’s challenges. “Our nation faces challenges… they are surmountable when we work collectively. The time for lamentation is over; the time to act is now,” Tinubu declared.
He noted that the allocations reflect his administration’s dedication to laying the groundwork for sustainable peace and prosperity, assuring Nigerians that the proposed fiscal policies would drive economic growth and development.
As the holiday season begins, Tinubu’s return to Lagos underscores his connection to the state and provides an opportunity for him to engage with local stakeholders and residents during the celebrations. Governor Sanwo-Olu expressed delight at welcoming the President and reaffirmed Lagos State’s support for the administration’s national agenda.
With the proposed budget serving as a foundation for hope and transformation, Nigerians await its implementation to realize its promises of peace, stability, and progress.