The News Agency of Nigeria (NAN) reports that in the 2025 budget, the sum of N4.90 trillion was allocated to Defence, N4.06 trillion to infrastructure, N2.48 trillion to health and N3.52 trillion to education, among others.
The lawmakers, in their separate reactions after the presentation of the budget, described the budget as a ‘huge improvement’ on the 2024 budget.
The Chairman, House of Representatives Committee on Defence, Rep. Benson Babajimi (APC-Lagos), said that if well-implemented, the budget would meet the expectations of Nigerians.
“It very ambitious, a huge improvement from last year’s budget. It shows the president is bold and a reformist.
“He wants to connect Nigeria with rail and roads; the Sokoto-Badagry expressway project is a game changer; that of Lagos-Calabar is a game changer as well.
“There is a huge improvement in security, budget, health and education. That shows somebody who has a mission and a vision. The renewed hope infrastructure fund he spoke about also will take us to the next level.
“So we believe that it is a good budget, and he has prayed for cooperation from the national assembly.
“To ensure that, the Senate President, Godswill Akpabio, has emphatically said that we will ensure that the budget is ruthlessly implemented; so we are hoping for a renewal of hope in 2025,” he said.
Rep. Abubakar Fulata (APC-Jigawa) also said that all the assumptions in the budget were very satisfactory, except a few areas.
Fulata said that the over 15 trillion set aside for debt servicing out of the entire sum was not very impressive.
He stated that the current price of crude oil was hovering between $73 and $74 per barrel, with the budget predicated on $15 dollars per barrel
“Already, we have a deficit of about $1.5 in each barrel. So I hope that we will be able to raise the money we are expecting to realise.
“We also hope that there will be peace in the Niger Delta so that we will be able to get the 2.06 million barrels per day,” he said.
On his part, Rep. Idem Unyime (PDP-Akwa Ibom) said that the January to December budget circle would not be realised.
He said that though the budget was presented within the stipulated time, the assembly could only consider it after the Christmas holidays.
Unyime said that the assembly would work on the budget and ensure its passage before the end of January 2025. (NAN
