FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly - Newstrends
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FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly

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President Bola Ahmed Tinubu's 2025 Budget of Restoration

FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly

Presentation by His Excellency, President Bola Ahmed Tinubu, GCFR of the 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity to a joint session of the National Assembly on Wednesday 18th December, 2024.

PROTOCOLS:

— The Vice President, Senator Kashim Shettima

— Senate President, Distinguished Senator Godswill Akpabio

— Right Honourable Speaker, Tajudeen Abbas

— National Chairman of our great party, Excellency, Abdullahi Umar Ganduje

— State Governors here present

— Distinguished Leaders and Members of the National Assembly

— Senior Government Officials here present

— Gentlemen of the press.

My Fellow Nigerians,

1. In fulfilment of one of my constitutional duties and with unyielding commitment to rebuilding Nigeria towards ensuring that we remain steadfast on the journey to a prosperous future, I hereby present the 2025 Budget to the Joint Session of the 11th National Assembly.

2. On this day, before this hallowed chamber, I present to you the 2025 Budget at a time when our country is at a crucial point in its development trajectory.

3. The 2025 Budget Proposal again reinforces our administration’s roadmap to secure peace, prosperity, and hope for a greater future for our beloved nation. This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.

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4. The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.

5. The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.

6. We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.

7. The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.

8. We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.

9. The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory.

CURRENT ECONOMIC REALITIES AND PROGRESS

10. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly, I report today that our economy is responding positively to stimulus. Our objective is to further stimulate the economy through the implementation of targeted fiscal stimulus packages through public expenditures and specific non-inflationary spending.

11. The reforms we have instituted are beginning to yield results. Nigerians will soon experience a better and more functional economy.

12. Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.

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Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.

Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.

Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.

13. These clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.

2024 BUDGET PERFORMANCE

14. I am happy to inform this National Assembly that our administration attained remarkable milestones in implementing the 2024 Budget. In 2024, we achieved:

14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter.

21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.

15. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt.

PHILOSOPHY OF THE 2025 BUDGET

16. The 2025 Budget seeks to:

Restore macroeconomic stability.

Enhance the business environment.

Foster inclusive growth, employment, and poverty reduction.

17. Our budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.

2025 BUDGET OVERVIEW

18. The numbers for our 2025 budget proposal tell a bold and exciting story of the direction we are taking to retool and revamp the socio-economic fabric of our society.

In 2025, we are targeting 34.82 trillion naira in revenue to fund the budget.

Government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.

A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit.

19. This is an ambitious but necessary budget to secure our future.

20. The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).

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21. These projections are based on the following observations:

Reduced importation of petroleum products alongside increased export of finished petroleum products.

Bumper harvests, driven by enhanced security, reducing reliance on food imports.

Increased foreign exchange inflows through Foreign Portfolio Investments.

Higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.

KEY PRIORITIES: REBUILDING NIGERIA

22. Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.

23. Highlights of the 2025 Budget Allocations:

• Defence and Security: N4.91 trillion

• Infrastructure: N4.06 trillion

• Health: N2.48 trillion

• Education: N3.52 trillion

24. As we embark on implementing the 2025 Budget, our steps are deliberate, our decisions resolute, and our priorities are clear. This budget reflects a renewed commitment to strengthening the foundation of a robust economy, while addressing critical sectors essential for the growth and development we envision.

Securing Our Nation:

25. Security is the foundation of all progress. We have significantly increased funding for the military, paramilitary, and police forces to secure the nation, protect our borders, and consolidate government control over every inch of our national territory. The government will continue to provide our security forces with the modern tools and technology they need to keep us safe. Boosting the morale of our men and women in the armed forces will remain our government’s top priority.

26. The officers, men, and women of our Armed Forces and the Nigerian Police Force are the shields and protectors of our nation. Our administration will continue to empower them to defeat insurgency, banditry, and all threats to our sovereignty. Our people should never live in fear—whether on their farmlands, highways or cities. By restoring peace, we restore productivity, revive businesses, and rebuild our communities.

Infrastructure Development:

27. When we launched the Renewed Hope Infrastructure Development Fund, it was with the conviction that infrastructure remains the backbone of every thriving economy. Under this programme, we are accelerating investments in energy, transport, and public works. By leveraging private capital, we hope to complete key projects that drive growth and create jobs. We have already embarked on key legacy projects: Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway, which will have a huge impact on the lives of our people and accelerate economic output.

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Human Capital Development:

28. Our people are our greatest resource. That is why we are making record investments in education, healthcare, and social services:

Our administration has so far disbursed 34 billion naira to over 300,000 students via the Nigeria Education Loan Fund (NELFUND). In the 2025 Budget, we have made provision for 826.90 billion naira for infrastructure development in the educational sector. This provision also includes those for the Universal Basic Education (UBEC) and the nine new higher educational institutions.

We are convinced that Universal Health Coverage initiatives will strengthen primary healthcare systems across Nigeria. In this way, we have allocated 402 billion naira for infrastructure investments in the health sector in the 2025 Budget and another 282.65 billion naira for the Basic Health Care Fund. Our hospitals will be revitalised with medication and better resources, ensuring quality care for all Nigerians. This is consistent with the Federal Government’s planned procurement of essential drugs for distribution to public healthcare facilities nationwide, improving healthcare access and reducing medical import dependency.

Revitalizing Agriculture:

29. Increasing agricultural production is central to our food security agenda, but insecurity has crippled this vital sector. We are supporting our farmers with funding and inputs to reignite productivity. Food security is non-negotiable. In this regard, we are taking bold steps to ensure that every Nigerian can feed conveniently, and none of our citizens will have to go to bed hungry.

30. Distinguished Senate President, Right Honourable Speaker of the House of Representatives, leaders and members of both Chambers of the National Assembly and fellow Nigerians, our 2025 budget proposal is not just another statement on projected government revenue and expenditures. It is one that calls for action.

31. Our nation faces existential threats from corruption and insecurity and suffers from many past poor choices. These challenges are surmountable when we work collaboratively to overcome them. We must rewrite the narrative of this nation together, with every leader, institution, and citizen playing their part.

32. The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.

33. As your President, I remain committed and resolute to continue to lead the charge.

34. This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved.

35. It is with great pleasure, therefore, that I lay before this distinguished Joint Session of the National Assembly the 2025 Budget of the Federal Government of Nigeria titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity.

36. May God bless our Armed Forces and keep them safe. May God bless the Federal Republic of Nigeria.

Thank you.

Bola Ahmed Tinubu, GCFR

President, Commander-in-Chief of The Armed Forces, Federal Republic of Nigeria.

 

FULL TEXT: Tinubu’s speech at 2025 budget presentation to joint National Assembly

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Bandits Demand Over ₦100m Ransom for 15 Abducted Islamiya Students in Niger

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November 4, 2026

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Bandits Demand Over ₦100m Ransom for 15 Abducted Islamiya Students in Niger

 

Suspected bandits who abducted 15 students of an Islamiya school in Niger State have reportedly demanded more than ₦100 million for their release, heightening fears over the safety of the children and prompting fresh calls for urgent government intervention.

 

The victims were reportedly kidnapped while assisting their teacher, Malam Aminu Bako, in harvesting maize on his farm in Tungan-Bako village, Rafi Local Government Area of Niger State, during the weekend.

 

The teacher disclosed that the armed men had contacted community leaders to communicate their ransom demand, leaving parents and residents increasingly worried about the fate of the abducted children.

 

According to reports, the kidnappers initially believed the victims were students of government-owned schools. However, a parent, identified as Malam Adamu, said community representatives informed the abductors that the children attended an Islamiya school.

 

Adamu explained that the bandits had demanded more than ₦100 million before being informed about the actual identity of the school.

 

The teacher, who confirmed the ransom demand, also appealed to the Federal Government and Niger State Government to urgently intervene and ensure the safe return of the students.

 

Bako expressed concern that the children might be facing harsh conditions in captivity, revealing that information gathered through local vigilantes suggested they were still being held somewhere within Niger State.

 

According to him, the students were reportedly locked inside an isolated building guarded by heavily armed men.

 

“We heard that they were still within Niger State, locked in a building, probably without food. We are worried; we want the authorities to come to our aid to rescue them,” he said.

 

The teacher maintained that the situation required urgent intervention by the military and other security agencies, warning that community vigilantes might not have the capacity to confront the heavily armed kidnappers.

 

He also expressed dissatisfaction with what he described as the limited government presence since the incident, saying the affected families and school management had largely been left to depend on local vigilantes for information and assistance.

 

Bako disclosed that the acting chairman of Rafi Local Government Area and the Divisional Police Officer were the only government officials who had visited the community following the abduction.

 

He said the absence of further engagement from the state government had increased anxiety among parents, who had continued to approach him for updates on their children’s whereabouts and safety.

 

“We are also worried that nobody has visited us from the state government, at least to give us hope that something is being done to ensure their release,” he added.

 

The teacher consequently appealed to the authorities to demonstrate greater commitment towards securing the students’ freedom, stressing that the community needed more than assurances.

 

Meanwhile, the Niger State Police Command has confirmed the abduction, although its preliminary account differed slightly from the number of victims identified by the teacher.

 

The Police Public Relations Officer, SP Wasiu Abiodun, said suspected bandits invaded Tungan-Bako village and abducted some people working on a farm.

 

According to him, preliminary police information indicated that about 14 of the victims were Islamiya school students who had accompanied their instructor to harvest maize.

 

Abiodun, however, assured that joint security operations were ongoing to rescue the abducted persons.

 

The police assurance came amid concerns from residents, who maintained that local vigilantes were the only security personnel visibly involved in efforts to trace the abductors.

 

The Commissioner for Homeland Security in Niger State, Justin Maurice Magaji, was reportedly unavailable for comments when contacted, as he was attending a State Executive Council meeting.

 

The teacher subsequently released the names of the 15 students reportedly taken away by the bandits.

 

They are Hassana Isah, Aliya Ahmad, Hajara Musa, Hauwa’u Abubakar, Halima Yahaya, Asma’u Jamilu, Radiya Salisu, Aminatu Salisu, Aisha Bello, Rahinatu Sani, Aminatu Alhassan, Nafisa Ayuba, Bilkisu Adamu, Salaha Abdullahi and Hajara Salisu.

 

The reported discrepancy between the 15 names released by the teacher and the 14 Islamiya students mentioned in the police account has also raised questions about the exact number of victims.

 

The latest development has renewed concerns over the persistent activities of armed bandits in parts of Niger State, particularly attacks targeting rural communities and vulnerable residents.

 

For the families of the abducted students, however, the immediate priority remains the safe return of their children.

 

They are calling on the Federal Government, Niger State Government and security agencies to intensify rescue operations and ensure that the children are reunited with their families without further delay.

 

Bandits Demand Over ₦100m Ransom for 15 Abducted Islamiya Students in Niger

 

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FG’s N50,000 Relief: OPay Details Eligibility Check Process, Issues Strong Warning Against Scams

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18 hours ago

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November 4, 2026

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BREAKING: OPay Warns Customers Against Viral Shutdown Message, Threatens Legal Action

FG’s N50,000 Relief: OPay Details Eligibility Check Process, Issues Strong Warning Against Scams

 

Lagos, Nigeria — Following the Federal Government’s introduction of the N50,000 relief package, leading financial technology platform, OPay, has released comprehensive guidelines on how customers can verify their eligibility for the funds. The company has simultaneously issued a stern warning to users regarding the rise of fraudulent schemes targeting beneficiaries.

 

In a statement released on Tuesday, November 3, 2026, and reported by Punch, OPay clarified the procedural steps for Nigerians to determine if they qualify for the government’s financial intervention. The move comes as millions of citizens seek clarity on accessing the relief aimed at cushioning economic hardship.

 

How to Check Eligibility

 

According to OPay, the verification process is designed to be seamless and accessible directly through the OPay mobile application. Customers are advised to log into their updated OPay app to access the dedicated section for the Federal Government’s relief program.

 

The fintech giant explained that users will be required to provide specific details to verify their status. Once logged in, customers can navigate to the designated “Government Relief” or notification tab where the eligibility checker is situated. The system cross-references the user’s verified identity (such as their Bank Verification Number, BVN, and National Identification Number, NIN) with government databases to confirm qualification.

 

Strict Warning Against Fraudsters

 

In a critical advisory, OPay warned customers to remain vigilant against scammers who are leveraging the news of the N50,000 relief to defraud unsuspecting citizens. The company emphasized that it will never ask customers to pay a fee or provide sensitive information over the phone to claim the relief.

 

“OPay urges all Nigerians to be cautious. The N50,000 relief is a government initiative, and no fee is required to check eligibility or receive funds,” a representative stated. “We will never ask for your OPay PIN, passwords, or OTPs via phone calls, text messages, or social media. Beware of fake links claiming to be from OPay or the government.”

 

Security Tips for Users

 

To ensure safety, OPay advised users to follow these guidelines:

 

· Use Only the App: Only check your eligibility through the official OPay mobile application.

· Protect Your Data: Never share your ATM card details, OPay PIN, or One-Time Passwords (OTPs) with anyone.

· Ignore Suspicious Links: Do not click on links received via SMS or WhatsApp claiming to offer the N50,000 relief.

· Verify Information: Always confirm information through OPay’s official customer service channels or verified social media pages.

 

The company reaffirmed its commitment to the financial security of its customers and stated that it is working closely with relevant government agencies to ensure a smooth and transparent disbursement process for eligible beneficiaries.

 

For those who may face difficulties checking their eligibility, OPay has encouraged customers to contact their customer care team through the in-app support feature.

 

FG’s N50,000 Relief: OPay Details Eligibility Check Process, Issues Strong Warning Against Scams

 

 

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‘I Went to My Pastor for Deliverance, Ended Up in Bed With Him’ – Lady Recounts Encounter

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November 4, 2026

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‘I Went to My Pastor for Deliverance, Ended Up in Bed With Him’ – Lady Recounts Encounter

 

A Nigerian woman has sparked controversy on social media after recounting an alleged sexual encounter with her former pastor during a deliverance session.

 

The unidentified woman reportedly made the revelation during a video interview shared by social media platform NewsVista, claiming that what began as a visit to seek spiritual intervention eventually ended in a sexual encounter.

 

In the viral clip, the woman expressed confusion over how the incident happened, insisting that she still struggles to understand how a session she had expected to be devoted to prayer and deliverance turned into an intimate encounter.

 

The interview has since attracted attention online, with the allegation raising concerns about the relationship between religious leaders and members who approach them for spiritual guidance and counselling.

 

Although details surrounding the alleged incident remain unclear, the woman’s account has triggered discussions about the responsibility of religious leaders to maintain professional and ethical boundaries while attending to vulnerable members of their congregations.

 

Some social media users have criticised the alleged conduct, arguing that pastors and other religious leaders occupy positions of trust and should not exploit their spiritual authority or the vulnerability of people seeking assistance.

 

Others have called for religious organisations to strengthen accountability measures and introduce safeguards for private counselling and deliverance sessions.

 

However, the identity of the pastor, the church involved and the location where the alleged incident occurred have not been disclosed.

 

It is also unclear when the alleged encounter took place or whether the woman has made any formal complaint to the relevant authorities.

 

NewsTrends.ng cannot independently verify the circumstances surrounding the woman’s account. The allegation should therefore be treated as unverified pending further details or an official response from the person concerned.

 

The development has once again drawn attention to the need for accountability, transparency and appropriate boundaries in religious counselling, particularly where individuals place their trust in spiritual leaders for help with personal challenges.

 

‘I Went to My Pastor for Deliverance, Ended Up in Bed With Him’ – Lady Recounts Encounter

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