PRESIDENT TINUBU ASSURES NIGERIANS OF IMPROVED ECONOMY AS HE SIGNS THE HISTORIC N54.99 TRILLION BUDGET OF RESTORATION

 STATEHOUSE PRESS RELEASE

PRESIDENT TINUBU ASSURES NIGERIANS OF IMPROVED ECONOMY AS HE SIGNS THE HISTORIC N54.99 TRILLION BUDGET OF RESTORATION

President Bola Tinubu said Friday in Abuja that disciplined focus and diligence would be the benchmarks for implementing the historic “2025 Budget of Restoration.”

He said the N54.99 trillion budget, which he signed into law, is based on projected revenues.

Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbass, and Senate Committee Chairman on Appropriation Sen. Solomon Adeola witnessed the budget signing ceremony.

“Today, we take another bold step in our nation’s journey of economic recovery, stability, and growth with the signing of the 2025 Budget of Restoration. We reaffirm our commitment to securing our future, rebuilding prosperity, and ensuring that every Nigerian shares in the dividends of governance.

“The past year tested our resolve. But through economic discipline and strategic reforms, we achieved what many deemed impossible. After the initial turbulent take-off, our people can see signs of progress and the promise of a better future. Our economy is turning the corner,” the President said.

President Tinubu noted that the uncertainty over the economy was gradually clearing as the reforms took shape, delivering a national GDP growth of 3.86% in the last quarter of 2024, the fastest in three years.

“Revenue increased to N21.6 trillion from N12.37 trillion, reflecting our drive for fiscal efficiency and the deficit reduced significantly—from 6.2% in 2023 to 4.17% in 2025.

“Forex reforms restored investor confidence, stabilising our markets. The minimum wage was raised to ₦70,000, strengthening the purchasing power of workers, and infrastructure development advanced rapidly, with transformative projects such as the 750km Lagos-Calabar Coastal Highway and the 1,068km Sokoto-Badagry Superhighway,” the President added.

President Tinubu thanked the leadership and members of the National Assembly for their collaboration in giving the appropriation bill speedy attention and passage.

“We have no dust on our faces or tears in our eyes. We walked together as brothers and sisters. Though the initial outlook was turbulent, we can now see signs of progress,” he stated.

The President urged the legislators to extend the same support for implementing the budget.

The President highlighted some priority areas in the budget, including National Security, Infrastructure and energy, Human Capital Development, healthcare, education, and skills development.

President Tinubu said the increased allocation for agriculture and food security will boost local food production and ensure that no Nigerian goes hungry. Similarly, the enhanced budget for social welfare will support youths, women, and vulnerable citizens.

“This budget is bold, ambitious, and necessary. However, let me be clear: We cannot spend what we do not have.

“While we have significantly reduced the deficit, we must ensure that we back every naira spent with actual revenue. We will not burden future generations with reckless borrowing. Instead, we will expand government revenues through efficiency reforms and enhanced earnings; accelerate public-private partnerships and foreign investments to finance key projects,” he said.

President Tinubu said every government agency would be held accountable for prudent spending and value-for-money initiatives.

“To ensure smooth budget implementation, we will work with the National Assembly to redefine corrigenda within the Appropriations Act.

“The redefinition will establish clear triggers for amendments, balancing executive needs with legislative oversight. A budget is not just numbers—it is a promise, and we must honour it with discipline,” the President added.

The President of the Senate, Godswill Akpabio, assured the President of the full support of the National Assembly in implementing the budget.

Sen. Akpabio noted that the President inherited a “foaming economy” that needed urgent economic measures to recover.

The Senate President affirmed that President Tinubu’s experience from Lagos and versatility in managing men and resources enabled the economy’s ongoing reforms and turnaround.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the passing of the budget had been a collaborative effort based on consultation, negotiation and analysis.

“The National Assembly has all along been partners in progress with you, Mr President,” he added.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

February 28, 2025

STATEMENT BY PRESIDENT BOLA AHMED TINUBU ON THE COMMENCEMENT OF THE 2025 RAMADAN FASTING SEASON

 STATEMENT BY PRESIDENT BOLA AHMED TINUBU ON THE COMMENCEMENT OF THE 2025 RAMADAN FASTING SEASON

 

I congratulate the Muslim faithful in Nigeria and worldwide as we begin the sacred month of Ramadan.

 

We are profoundly grateful to Almighty Allah for granting us the grace to witness the commencement of this holy month, a cornerstone of the Islamic faith. May this fasting and devotion period be marked by good health, spiritual fulfilment, and divine blessings.

 

Ramadan is a time for deep reflection, renewed devotion to Allah, and acts of compassion and generosity toward humanity.

 

It is a season of spiritual rejuvenation, self-discipline, and empathy for the less fortunate. I urge all Muslims observing the fast to embrace the profound lessons of piety, humility, and selflessness that this holy month embodies. Let us use this period to strengthen our bonds with Allah and one another, fostering unity and peace in our communities.

 

This year's Ramadan holds special significance as it coincides with a period of renewed hope and progress for our nation. Our administration's bold and transformative policies are beginning to yield positive results, as evidenced by the gradual stabilisation of our economy. The Gross Domestic Product for the last quarter of 2024 showed a marked improvement over the same period in 2023. The once-soaring prices of essential food items are now downward, providing much-needed relief to our fasting population and all Nigerians. The exchange rate is stabilising, and fuel prices are declining, signalling a brighter future.

 

As the wet season approaches, we remain steadfast in boosting agricultural productivity. We are determined to enhance food production and ensure self-sufficiency and food security for all Nigerians through targeted input support, mechanisation, and innovative farming initiatives. Our resolve to build a resilient and prosperous nation remains unwavering.

 

In this sacred month, I call on all Nigerians to join hands in prayer and action for our beloved country's continued growth and development. Let us fervently seek Allah's guidance and protection for our nation, and let our words and deeds reflect our shared commitment to peace, unity, and progress.

 

I extend my heartfelt wishes to all Muslims observing Ramadan for a month filled with joy, peace, and spiritual renewal. May the blessings of this holy month illuminate our hearts and homes, and may we emerge from it as better individuals and a stronger nation.

 

Ramadan Kareem!

 

Bola Ahmed Tinubu, GCFR

President, Federal Republic of Nigeria

February 28, 2025

PRESIDENT Bola Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law, a few days after adjustments by the National Assembly.

 PRESIDENT Bola Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law, a few days after adjustments by the National Assembly.

The signing took place on Friday, February 28, at the State House in Abuja during a brief ceremony. 

The budget, originally proposed at N49.7 trillion, was increased to N54.99 trillion before being passed by lawmakers.

It would be noted that Tinubu on Wednesday, December 18, presented Nigeria’s 2025 budget proposal to a joint session of the National Assembly with key highlights, adjusting the exchange rate benchmark to N1,500 per dollar.

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The budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” aimed at consolidating policies to restructure Nigeria’s economy, boost human capital, and stimulate key sectors such as manufacturing and oil and gas production.

He said the 2025 budget sought to consolidate the key policies his administration had instituted to restructure Nigeria’s economy and boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get the manufacturing sector humming, and ultimately increase the competitiveness of the country’s economy.

Federal Government Begins Training for Participants of the One-Year National Health Fellows Programme

 Federal Government Begins Training for Participants of the One-Year National Health Fellows Programme

The Federal Government has commenced training for individuals who successfully enrolled in the one-year National Health Fellows Programme, which was created to bring about meaningful change and innovation in the healthcare sector.

While addressing the selected participants from the 774 local government areas of Nigeria, who represent various professional fields, the Minister of Health and Social Welfare, Professor Muhammad Ali Pate, urged the youths to view the programme as a gift and a major opportunity granted to them by President Bola Ahmed Tinubu GCFR.

"The President is offering this to you as an opportunity. So, what will you do with it? Embrace it wholeheartedly. Build yourselves. Learn valuable skills. You have trainers and mentors who will guide you, especially in primary healthcare. Think deeply about what you are passionate about," he stated.

Professor Pate highlighted that the National Health Fellows Programme demonstrates how the Federal Government is investing in human development, aligning with President Tinubu's Renewed Hope agenda, which aims to bring reforms in the healthcare sector.

He further encouraged the youth participants to view the training as an opportunity to learn and develop good leadership qualities such as honesty, courage, and resilience. The programme will also provide them with the chance to receive mentorship for the development of Nigeria.

After reviewing the training centers in Abuja, Professor Pate remarked:

"These youths are tomorrow’s leaders in the healthcare sector, and they will accelerate the implementation of necessary reforms, promote integrity and trust, while gaining training from experts."

"You will play a vital role in achieving the President's goal of building a prosperous and healthy nation."

He also mentioned that the selection was based on merit, with both men and women from every local government area being represented. He added that nearly 359,000 individuals applied for the programme but were not selected. However, an Associate Health Fellows programme has been planned to provide opportunities for others in the future.

During an interview with one of the participants, Mr. Godswill Michael from Nsenibom Local Government Area in Akwa Ibom State, he expressed that the selection process renewed his hope and confidence in his country. He also noted that the training would enhance his skills for the development of his community.

Another participant, Nadiya Abdullahi Ahmed from Bauchi Local Government Area, praised the programme, describing it as a great opportunity and a step towards achieving major goals, Insha Allah. She also mentioned that the training was efficient, from the application process to the selection of qualified candidates, which she said was done with ease and transparency.

Finally, it is important to emphasize that the selection of participants for the National Health Fellows Programme was based on merit, through the Sector Wide Approach (SWAp) Coordination Office of the Ministry of Health and Social Welfare.

PRESIDENT TINUBU TO AIRTEL CHAIRMAN: "I AM PRO-BUSINESS. NIGERIA NEEDS INVESTORS LIKE YOU TO GROW"

 STATE HOUSE PRESS RELEASE 

PRESIDENT TINUBU TO AIRTEL CHAIRMAN: "I AM PRO-BUSINESS. NIGERIA NEEDS INVESTORS LIKE YOU TO GROW"

 

President Bola Tinubu, Thursday in Abuja, said the telecoms sector's regulatory framework and operations would be reviewed to reflect global best practices, with a greater focus on protecting infrastructure.

 

President Tinubu spoke at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House.

 

"I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length.

 

"The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes.

 

"It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work. I am pro-business, and I will continue to be that. I can give you that assurance,'' he said.

 

The President noted that the tax reforms will create a more favourable climate for investors.

 

"We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities. We are ready to do that".

 

The Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, thanked the President for consistently supporting the telecoms sector's growth.

 

Tijani said the approval by the President for the protection of fibre optic and undersea cables as critical national assets would further stimulate growth in the industry, assuring that the Office of the National Security Adviser (NSA) has started implementing and enforcing the law.

 

The Chairman of Airtel commended the President for the two-pronged economic reforms that had transformed the economy for future growth.

 

"When you took office, you made some promises. Given the country's situation, I was unsure how deep and far you could take your commitments.

 

"I am indeed reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tons of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.

 

"During that time, the Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that.

 

"The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward,'' he said.

 

Mittal said the reforms turned India into one of the largest economies in the world.

 

"I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500.

 

"It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,'' the Airtel Chairman told President Tinubu.

 

He also commended the removal of the petrol subsidy.

 

"The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country.

"You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.

 

"This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward,'' he added.

 

Mittal said more Nigerians should be encouraged to invest in the country, particularly those with huge financial portfolios abroad.

 

"I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,'' he stated.

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

February 27, 2025

MINISTER OF INFORMATION, MOHAMMED IDRIS, LOSES MOTHER-IN-LAW

 MINISTER OF INFORMATION, MOHAMMED IDRIS, LOSES MOTHER-IN-LAW

The Minister of Information and National Orientation, HM Mohammed Idris, has lost his mother-in-law, Hajia Hauwa Yakub Usman, who passed away at the age of 70.

Hajia Hauwa Yakub Usman died on Sunday night in Abuja after a brief illness. She was laid to rest at Gudu Cemetery, Abuja, following funeral prayers at the National Mosque.

The funeral was attended by top government officials, including the National Security Adviser, Mallam Nuhu Ribadu; Minister of Budget and Economic Planning, Senator Atiku Bagudu; the Director Supervising the Office of the Permanent Secretary, Federal Ministry of Information and National Orientation, Mr. Ibidapo Okunnu; as well as Directors General of various government agencies, including the Federal Radio Corporation of Nigeria (FRCN), Dr. Mohammed Bulama; Voice of Nigeria (VON), Mallam Jibrin Baba Ndace; Nigerian Television Authority (NTA), Comrade Abdulhamid Dembos; and the Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Fadolapo.

She is survived by children and grandchildren.

Rabiu Ibrahim 

Special Assistant (Media) to the Honourable Minister of Information and National Orientation.

Monday, February 24th, 2025

PRESIDENT TINUBU RECEIVES NIPSS REPORT ON DIGITAL ECONOMY, REAFFIRMS COMMITMENT TO YOUTH EMPOWERMENT, JOB CREATION

 STATEHOUSE PRESS RELEASE

PRESIDENT TINUBU RECEIVES NIPSS REPORT ON DIGITAL ECONOMY, REAFFIRMS COMMITMENT TO YOUTH EMPOWERMENT, JOB CREATION

 

President Bola Tinubu said on Monday in Abuja that the federal government will continue to prioritise the development of the digital economy to enhance youth empowerment and job creation.

 

The President made the pledge while receiving a report titled "Digital Economy, Youth Empowerment and Sustainable Job Creation in Nigeria: Issues, Challenges and Opportunities," presented by participants of the Senior Executive Course 46 National Institute for Policy and Strategic Studies (NIPSS), Kuru.

 

In their eight-point recommendation, the course participants urged the Federal government to expedite the enactment of the Digital Economy and e-Governance Bill 2024 and encourage states to waive the Right of Way fees on deployment of telecoms infrastructure.

 

The 96 participants also recommended that the President issue an Executive Order mandating all MDAs to migrate to the OneGov.ng portal.

 

They advocated adopting a Quintuple-Helix Model to promote the digital economy, youth empowerment, and sustainable job creation.

 

Other recommendations were promoting long-term funding for the 3MTT scheme, accelerating the transition from IPv4 to IPv6, establishing Digital Health Innovation Hubs across Nigeria, and developing a preventive maintenance application for the nation's automotive industry.

 

Responding, President Tinubu directed the Minister of Communications and Digital Economy to coordinate with the group and present their recommendations to the Secretary to the Government of the Federation and the Head of the Civil Service for streamlined implementation.

 

Emphasising the importance of youth empowerment through innovation and digital skills development, President Tinubu said:

 

"At the core of our administration is youth empowerment. We cannot relent on that, and we need everyone's collaboration.

 

"I have listened carefully to your recommendations and the thorough work you did. We will continue to engage the Institute as a resource centre and Think Tank.

 

"As Nigeria's foremost policy Think-Tank, you have highlighted the overlap of some government agencies, and we'll look at that.

 

"You are an asset to our country, and I thank the participants for their dedication to their studies. We will continue to collaborate with you for the prosperity of our country."

 

Highlighting the importance of data in national planning, President Tinubu told the meeting he had earlier met with officials from the National Population Commission (NPC) to discuss the upcoming census.

 

Prof. Ayo Omotayo, the Director-General of NIPSS, said during the year-long engagement, course participants undertook study tours across Nigeria and abroad, exploring the theme of their study.

 

"We recognise that in an era where technology drives innovation, Nigeria must aggressively leverage its youthful population to build a thriving ecosystem. The opportunities are boundless, from Fintech to Agri-Tech, E-Commerce to Artificial Intelligence.

 

"However, systemic challenges such as infrastructural deficits, inadequate digital skills, and regulatory bottlenecks must be addressed.

 

"Our findings highlight the urgent need for targeted policies that foster an enabling environment for startups, enhance access to finance, and expand broadband penetration.

 

"We believe that with your administration's continued support, Nigeria will fully unlock the potential of the digital economy and create millions of sustainable jobs for our teeming youth," he said.

 

The Minister of Communications and Digital Economy, Bosun Tijani, announced that the Digital Economy Bill, currently before the National Assembly, will undergo public hearings in all 36 states and the Federal Capital Territory (FCT) before its passage in the second quarter of 2025.

 

According to him, this is the first time legislation will be subjected to such an extensive review.

 

Regarding Right of Way fees, the Minister disclosed that 11 states have responded to the federal government's request to waive the charges, a move aimed at facilitating broadband infrastructure expansion.

 

He expressed optimism that all states in the Federation would comply with this initiative before the end of the second year of the Tinubu administration.

 

On Nigeria's progress in internet protocol transition, Tijani stated that the country is on track to become one of the first in Africa to migrate fully from IPv4 to IPv6.

 

He added that in 2024, the federal government approved a $2 billion investment into 90,000 kilometres of fibre optic cables to ensure nationwide broadband coverage.

 

This project will have the third-longest fibre network in Africa, following South Africa and Egypt.

 

According to the Minister, the project has made significant progress, with support from the Ministry of Finance and a $500 million commitment secured by the World Bank.

 

In his intervention, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, noted that the ICT sector contributed 16% to Nigeria's GDP in 2024.

 

He emphasised the government's commitment to prioritising the sector as crucial for economic stability and job creation.

 

He also recalled President Tinubu's recent meeting with the Chief Executive of Flutterwave, during which the company pledged to support Nigerian youth and SMEs through technology-driven solutions with long-term economic impact.

 

"Flutterwave is considering listing on Nigeria's Stock Exchange, and we expect this to strengthen the tech and payments ecosystem further," he said.

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

February 24, 2025