A total of N15.81 trillion has been earmarked for debt servicing in the 2025 Appropriation Bill, presented by President Bola Ahmed Tinubu during a joint session of the National Assembly.
The Defence and Security sector received the largest share in the N47.9 trillion budget, as presented by the President on Wednesday.
While outlining key aspects of the budget proposal, the President revealed that Defence and Security were allocated N4.91 trillion, Infrastructure received N4.06 trillion, Health was allocated N2.4 trillion, and Education secured N3.5 trillion.
The budget proposal projects a revenue target of N34.8 trillion. Out of the N47.90 trillion budget, N15.81 trillion is set aside for debt servicing, leaving a deficit of N13.0 trillion.
Additionally, the President noted optimistic economic projections, including a reduction in inflation from 34.3% to 15% and a decrease in the exchange rate from N1700/$ to N1400/$.
