Abuja: The Tinubu Media Support Group (TMSG) has described the 2025 budget proposal of N47.9 trillion by President Bola Tinubu as a bold step toward rejigging the economy. The group said this in a statement signed by Mr. Emeka Nwankpa and Mr. Dapo Okubanjo, its Chairman and Secretary, respectively, on Sunday in Abuja.
According to News Agency of Nigeria, it was highlighted that infrastructure development, social services, and defence received the lion’s share of the expenditure plan. The budget’s ambitious nature, which is about N20 trillion more than the N28.7 trillion budget of the previous year, was noted as a clear statement of intent by President Tinubu, with significant allocation to critical sectors he described as key budgetary priorities. With N14.97 trillion allocated to infrastructure, security, health, and education, TMSG expressed confidence in the positive impact on Nigerians.
The group commended the historic allocation to education and healthcare, emphasizing the importance of improved access and quality in these sectors for human capital development. They noted that the government’s commitment to allocating N4.06 trillion to infrastructure development reflects an interest in enhancing economic growth, with significant funding for roads, rail, and power projects expected to have a positive impact on businesses. A projection by President Tinubu that the inflation rate will drop to about 15 percent from 34 percent was also mentioned.
The government’s allocation of N4.91 trillion to defence was seen as a move to ensure a secure environment for economic prosperity, which is expected to boost agriculture in regions previously affected by insecurity. TMSG expressed optimism about the revenue target, attributing its feasibility to the performance of revenue-earning agencies during President Tinubu’s first full year in office. The ambitious revenue projection of N36.3 trillion is viewed as an indication of the government’s intent to diversify the economy by enhancing non-oil revenue. The group highlighted the importance of improved tax collection and proposed tax reforms in broadening the country’s tax base and boosting revenues from taxes and customs duties.