A former presidential spokesman, Dr Doyin Okupe, has said the allocation of N4.91 trillion to defence and security in the 2025 budget underscores the present administration’s seriousness and political will to end insurgency and other security challenges.
Okupe, a former Director-General of Mr Peter Obi Presidential Campaign Organisation in 2023 General Election, said this in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.
NAN reports that the President had on Wednesday presented the N47.91 trillion 2025 Appropriation Bill , christened “Budget of Restoration, Securing Peace and Rebuilding Prosperity” , to a joint session of the National Assembly .
The President listed highlights of the 2025 budget allocations to include: defense and security: N4.91 trillion; infrastructure: N4.06 trillion; Health: N2.48 trillion and Education: N3.52 trillion.
Reacting, Okupe described the N47.91 trillion budget for 2025 as big and ambitious.
He said that the Appropriation Bill addressed “key sectoral aspects of our national life”.
Okupe noted that the assumptions on which the huge estimates were based were both realisable and achievable.
“The oil daily production of slightly more than N2m barrels, the forex benchmark of N1,500 to the dollar and the projected crude oil price of $75 are all vividly realistic figures going on by current and predictably prevailing global trend.
“The huge allocation of N4.91 trillion (10 per cent) to Defence and Security underscores the seriousness and political will of the administration to finally decimate insurgency and banditry.
“These two plagues are major contributors to food shortage, availability and inflation as they prevent farming activities in the North” Okupe said.
According to him, the significantly increased allocation of funds to social welfare shows government’s concern and intention to attend to the needs of the vulnerable in the society
He also applauded the President for giving priority to education and healthcare, which ,he said, would further improve the nation’s human development index.
“All in all, the huge size of the budget is also indicative of government’s intention to increase its spending thereby providing the necessary impetus for economic growth and increase in purchasing power of the citizens.
“The 2025 budget further strengthens the workability of the Renewed Hope Agenda,” he said.
Recalled that the President said that the budget was a demonstration of government’s commitment to stabilising the economy, improving lives and repositioning the country for greater performance.
He also said the budget sought to consolidate the key policies instituted to restructure the economy, boost human capital development, increase the volume of trade and investments and bolster oil and gas production. (NAN)