FG begins 2025 budget implementation in September, targeting economic growth, improved services, and fiscal discipline with the N54.99tn Budget of Restoration

The Director-General of the Budget Office of the Federation, Mr. Tanimu Yakubu, made the announcement during the 3rd Quarter Ministerial Stakeholders and Citizens Engagement Forum organised by the Ministry of Budget and National Planning in Abuja.

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Yakubu said the N54.99tn 2025 budget, tagged the “Budget of Restoration,” is designed to stimulate growth, improve public services, and boost investments in critical sectors.

“The implementation of the 2025 budget will begin by the end of September. Effective execution and fiscal discipline will be vital to its success,” Yakubu stated.

He stressed the importance of citizen participation, noting that Nigerians remain “the ultimate owners of public resources.”

He also highlighted initiatives such as translating budget documents into local languages, simplifying budget content, and strengthening community accountability.

The DG outlined key fiscal challenges, including setting realistic oil revenue targets, managing debt servicing costs (N14.3tn in the 2025 budget), and addressing fiscal implications of the Petroleum Industry Act.

He also mentioned strategies for Nigeria’s ambition to become a \$1.1tn economy by 2030, such as ward-based development across 8,809 wards, tax reforms, and innovation partnerships, including a \$30.9m Nigeria-Japan start-up programme.

Minister of Budget and National Planning, Atiku Bagudu, reaffirmed government’s commitment to transparency and evidence-based governance.

“Our policies and programmes must be based on facts, not speculation. Data is the foundation of responsible governance,” he said.

In addition, Statistician-General Adeyemi Adeniran called for greater investment in data systems, stressing that underfunding and outdated tools weaken the precision of national statistics, though the NBS continues to follow global best practices.

Meanwhile, Finance Minister Wale Edun confirmed that the performance of the extended 2024 budget has reached about 80 per cent.

Earlier reports in August indicated that the Federal Government may consider rolling over parts of the 2025 budget into 2026, citing delays in capital project execution, procurement bottlenecks, and a temporary shutdown of the cash-planning portal.

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The forum, attended by senior officials, civil society, and development partners, underscored the central role of credible data and fiscal discipline in Nigeria’s development plans.