Nigeria: Debt Servicing to Gulp N15.8trn As Tinubu Presents 2025 Budget

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President Bola Tinubu said the 2025 Budget was designed to address economic growth, human capital development, poverty reduction and insecurity (file photo).
18 December 2024
Daily Trust (Abuja)
By Balarabe Alkassim

A sum of N15.81 trillion has been allocated for debt servicing in the 2025 Appropriation Bill presented to the joint sitting of the National Assembly by President Bola Ahmed Tinubu.

Defence and Security tops the sectoral allocations in the N47.9 trillion budget presented by the President on Wednesday.

The President disclosed this while giving a highlight of the Budget proposal before the National Assembly.

He stated that Defence/Security was allocated N4.91 trillion; Infrastructure was allocated N4.06 trillion; Health N2.4 trillion health while Education gets N3.5 trillion.

According to the President, the budget proposal has a N34.8trn revenue projection adding that out of the proposed N47.90 trillion, N15.81 trillion is for debt service with a N13.0 trillion deficit.

He further noted that, Inflation was projected to go down from 34.3% to 15% while Exchange Rate was brought down from 1700/$ to N1400/$.

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