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The African Centre for Human Rights (ACHR) has joined the chorus and approval of President Bola Tinubu's 2025 budget presentation that has recently garnered widespread praise from various sectors of Nigerian society, with many viewing it as a turning point in the country's economic and social trajectory. Titled *“Budget of Restoration: Securing Peace, Rebuilding Prosperity”*, the N47.96 trillion budget is being hailed as a bold and comprehensive blueprint to address Nigeria’s most pressing challenges, which is believed would set the nation on a path to sustainable growth.
ACHR Executive Director, Dr Richard Ikani, said in a statement that President Tinubu’s 2025 budget, which is the largest in Nigeria's history, reflects a strategic and forward-thinking approach to the country’s economic recovery. He further said, “One of the central themes of the budget is to restore macroeconomic stability, a crucial step given Nigeria’s current challenges of high inflation and exchange rate volatility. With inflation currently exceeding 34%, the government has taken the bold step to set a target to reduce inflation to 15% by the end of 2025; a goal that many economists believe could help stabilize prices and increase the purchasing power of ordinary Nigerians.”
Ikani pointed out, “The President’s emphasis on stabilizing the exchange rate is another key feature of the budget. Projections indicate that the naira will strengthen to N1,500 to $1, a significant improvement from the current exchange rate, which hovers around N1,700 to $1. This move, experts say, will help stabilize Nigeria’s financial system, promote investor confidence, and facilitate trade.”
“Another notable aspect of the 2025 budget is the ambitious revenue target of N34.82 trillion, reflecting a determined effort by Mr President to increase government revenue. Nigeria has long struggled with a low revenue-to-GDP ratio overtime, and this budget seeks to reverse that trend for the best. The administration’s plan to increase oil production to 2.06 million barrels per day and broaden the tax base through improved tax collection is seen as a necessary step in achieving these goals. While the revenue target is challenging, President Tinubu has made it clear that these efforts are essential to reducing Nigeria's dependence on external debt and ensuring the sustainability of public services.”
More experts at ACHR have welcomed the government’s focus on revenue generation, particularly its emphasis on diversifying Nigeria’s income sources. “For years, Nigeria has been overly reliant on oil exports for revenue,” said Dr. Richard Ikani. “This budget signals a clear intent to shift toward a more diversified economy, one that can weather the fluctuations of global oil prices and become more self-sustaining in the long term.”
Dr Richard expressed is concerns on security by further stating, “in a country beset by various security challenges, President Tinubu’s budget prioritizes national security with an allocation of N4.91 trillion for defense and security. This allocation being the largest in the budget, is a clear response to the escalating threats of terrorism, banditry, and communal conflicts that have plagued many parts of Nigeria in recent years.”
“Without a secure environment, Nigeria cannot fully realize its potential. The President’s focus on security is not just about protecting citizens; it is also about creating a stable environment that fosters economic development and attracts foreign investment. By prioritizing defense, President Tinubu is showing a strong commitment to national stability.” The ACHR has praised this move, emphasizing that security is foundational to any meaningful economic growth.
Ikani further emphasized that, “ In addition to security, the budget allocates N4.06 trillion to infrastructure development, further strengthening the foundation for long-term economic growth. The infrastructure budget is expected to support critical projects in transportation, energy, and telecommunications, which are vital to the country’s industrialization and overall competitiveness. The emphasis on infrastructure development will help address Nigeria’s long-standing deficits in roads, electricity, and rail networks, all of which have been major barriers to economic growth and quality of life for Nigerians.”
The group further emphasised that improving infrastructure is crucial for the Nigerian economy to grow, and stating that the N4.06 trillion earmarked for infrastructure projects will not only improve the ease of doing business but will also create jobs, stimulate local economies, and enhance the overall living standards of citizens.
With a significant portion of the budget, N2.48 trillion being allocated to the healthcare sector, signalling the government’s recognition of the importance of a healthy population in fostering national development, the ACHR has praised this allocation, calling it a critical step in addressing Nigeria’s healthcare challenges, leading to improved access to healthcare services, enhance medical infrastructure, and address pressing public health issues such as maternal and infant mortality, communicable diseases, and malnutrition.
Dr Richard said, “By investing in healthcare, the government is not only addressing immediate needs but also building a healthier workforce for the future. A healthier population is more productive, and this investment will yield long-term benefits for Nigeria’s economy.”
“The budget also allocation of N3.52 trillion to education, underscores the government’s commitment to human capital development. We believe that Education is crucial for preparing the next generation to contribute meaningfully to the economy, and this allocation is expected to improve access to quality education, expand opportunities for technical and vocational training, and enhance the overall quality of Nigeria’s education system. By prioritizing education, President Tinubu is investing in the skills and knowledge that will drive Nigeria’s future growth and innovation.”
Dr. Ikani, in his comments, emphasized that the President’s budget signals a new direction for Nigeria, one that seeks to address both the immediate and long-term needs of Nigeria citizens. “President Tinubu has shown that he understands the challenges facing Nigeria and has crafted a budget that seeks to address those challenges head-on. This is a budget that can lay the foundation for lasting prosperity.”
Dr Ikani cleared the perceptions on the reality and expectations of the budget in his statement, stating that the budget’s focus on infrastructure and social services will require strong public-private partnerships and collaborative efforts across all levels of government. Civil society organizations, the media, and the need of the general public will to play an active role. “In holding the government accountable for the effective use of public funds, we all must be involved in contributing our little support to this administration. The president cannot do it alone, he needs us to help him build the Nigeria we desire. “
The African Centre for Human Rights (ACHR) urged everyone to be hopeful that the government will live up to the promises set out in the budget and Nigerians should look forward to seeing Nigeria take bold steps toward achieving the vision outlined by President Tinubu. As the 2025 budget moves through the National Assembly, it is clear that President Tinubu’s administration is laying the groundwork for a stronger, more secure, and prosperous Nigeria.
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