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A total sum of N15.81 trillion has been allocated for debt servicing in President Bola Tinubu’s proposed 2025 “restoration budget”.
Tinubu made the disclosure while presenting the N47.9 trillion budget proposal to a joint session of the National Assembly on Wednesday.
The president revealed that his administration is targeting N34.82 trillion in revenue to fund the 2025 budget, while adding that government expenditure in the same year is projected to be 47.90 trillion naira, including 15.81 trillion naira for debt servicing.
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“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. I promise we have to bring it down,” he said.
Speaking further, President Tinubu stated that 13.08 trillion naira or 3.89 per cent of GDP will make up the budget deficit.
