The minister said the total projected revenue for 2025 stands at N34.8 trillion out of which the expenditure is projected at 47.9 trillion, which is an increase of 36.8 per cent from the 2024 estimate

Minister of Finance and Coordinating Minister for the Economy, Wale Edun, on Monday said the N13 trillion deficit in the N48 trillion 2025 budget would be financed through borrowing. The minister said this while briefing State House Correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

The total projected revenue for 2025 stands at N34.8 trillion out of which the expenditure is projected at 47.9 trillion, which is an increase of 36.8 per cent from the 2024 estimate.
The deficit for 2025 is projected at 13.1 trillion, representing 3.89 per cent of GDP.

Mr Edun said the budget was designed within the context of how far and how much progress had been made under the leadership of President Bola Tinubu over the last 18 months.

“And even looking at it from an international context, we, like governments around the world, are concerned about how to achieve fiscal sustainability, revenue to expenditure and borrowing that is balanced, to create an environment in which the economy can grow.

“Private sector led economies such as ours and others, rely on investors to put down their money in various projects, increase productivity, create jobs, grow the economy and in the case of countries such as ours, bring the people out of poverty,” Mr Edun said.

He explained that the Tinubu administration had put in place policies that ensured market pricing of petroleum products, foreign exchange, and efforts had been made to improve the pricing of electricity.

Mr Edun said, “Just recently Shell announced a $5 billion investment, Total announced a multi-billion dollar investment just before that, and there are so many others expressing interest in investing in this country.


“So, progress has been made. There is greater fiscal sustainability and as I said, even the European countries are struggling to achieve some of these critical macroeconomic reforms.

“This budget is based on government spending in critical areas, but also more importantly, encouraging and making room for private sector investment.”

He further stated that the improvements in the economy were encouraging. “For the first time in about 25 years we have domestic refinement of petrol, not just to produce petrol but also raw materials for industries across a whole range, from pharmaceuticals to building products to textiles,” the minister said.

Leonardo4:
What a country. Selling the future of our kids. If you have means pls run

Leonardo4:

Where is the gains from susidy removal? Increased VAT

Javier Milei became President in December 2023 when Argentina was dying but he changed it all.

• Central Bank $12B in debt
• 50% poverty rate
• 7,500% inflation

Then Javier Milei became President.

11 months in, he's pulling off the greatest economic turnaround ever.

In a 2-hour pod with Lex Fridman, he revealed exactly how he did it🧵

When Milei took office in Dec 2023, Argentina was imploding:

• Inflation in the first half of December was at 7,500%
• GDP down 15% over the previous decade
• Central bank reserves: minus $12 billion
• Nearly 50% in poverty

The situation was worse than anyone imagined...
The government's finances were in complete meltdown:

A massive 15% fiscal deficit (5% treasury, 10% central bank).

The central bank had interest-bearing liabilities worth 4x the monetary base.

Meaning: They could quintuple the money supply overnight if those debts came due.

Hyperinflation seemed inevitable. Until Milei stepped in:
His first move was radical but necessary:

He slashed government ministries from 18 to 9 (now .

Then systematically removed 50,000 government employees.

The establishment called him "El Loco" - The Madman.

But there was a method to his madness:
Milei understood something profound about government spending:

The true tax burden isn't what citizens pay in taxes.

It's the total size of the state apparatus itself.

Every peso spent by the government is a peso taken from productive citizens.

So he went even further:
He eliminated entire categories of spending:

• Stopped all discretionary transfers to provinces
• Halted public works projects
• Removed economic subsidies
• Cut out social program intermediaries who were stealing half the funds

In January - his first month - he achieved the impossible:
For the first time in 113 years, Argentina achieved true fiscal balance.

The other 10 years without deficit? They weren't paying their debts.

Milei executed the largest fiscal adjustment in Argentina's history:

15 points of GDP in just 6 months.

The results were unprecedented...
A quick summary:

• Wholesale inflation: Plummeted from 54% to 2% monthly
• Core monetary inflation: Down to 0.2% monthly
• Poverty: Reduced from 57% to 46%
• GDP: Recovered to December levels
• Real wages: Growing above inflation

But here's what makes it truly remarkable:
He achieved this with minimal political support:

• Just 15% of representatives
• Only 10% of senators
• No hyperinflation trigger to reset expectations
• No price controls
• No fixed exchange rate

Previous stabilization plans relied on these tools.

Milei did it through pure fiscal discipline.
His deregulation ministry removes 1-5 regulations every day.

They have 3,200 more reforms planned.

When complete, Argentina will surpass the economic freedom levels of:
• Ireland at its peak
• Switzerland
• Australia

The impact is already visible:
JP Morgan has revised growth projections upward for next year.

But perhaps most importantly:

Milei proved you can fix a broken economy without:
• Devastating the poor
• Causing social collapse
• Losing public support

His approval rating today exceeds his initial popularity.
The experts said it couldn't be done.

That shock therapy would destroy the country.

That you needed slow, gradual change.

Milei proved them wrong.

And he did it in less than a year.
His guiding principle?

"What's the point of living without freedom?"

Sometimes the most revolutionary act is simply telling the truth - and having the courage to act on it.

But Milei understood something deeper:
In today's world, bold ideas need bold voices.

Milei didn't just implement policies.

He built trust at scale by clearly communicating his vision with Lex.

His authenticity became his competitive advantage.

This is the future of leadership:
Not just having good ideas, but being able to share them effectively.

Building trust before you need it & creating impact while you sleep.

Think about it:

How many world leaders in history have gone on 2-hour podcasts to face unfiltered questions?
For founders and leaders watching this:

Your ideas deserve to be heard.

Your insights can create a massive impact.

But only if you know how to share them effectively.

The world knows who Milei is because he projected his ideas.

casualobserver:


1: subsidy removal simply means we no longer borrow to pay for subsidy. It isn’t money we had and save due to subsidy removal. It is additional debt we save. Understand the difference! You can’t save. What you never had to begin with.

2: FG only gets 15% of the VAT collected. Ask your governors where the VaT money is.

3: the sensible question is where is the gain from floating the Naira and again the majority of it goes to the governors. Again ask your governors what they are doing with the windfall!

MadamExcellency:
Argentina is balancing the budget, stopped borrowing, stopped printing cash and the inflation nosedived.

Why can't Nigeria borrow the formula that works?

casualobserver:


1: subsidy removal simply means we no longer borrow to pay for subsidy. It isn’t money we had and save due to subsidy removal. It is additional debt we save. Understand the difference! You can’t save. What you never had to begin with.

2: FG only gets 15% of the VAT collected. Ask your governors where the VaT money is.

3: the sensible question is where is the gain from floating the Naira and again the majority of it goes to the governors. Again ask your governors what they are doing with the windfall!

QuestLINKsPrpty:
But not everyone has to run... Some of us still believe in this country that things can still work and have decided to stay back..

We realize how difficult it can be and the enormous sacrifice we have to pay when we should have considered relocating for better livelihood and giving our children a better grooming & future in other well organized societies/countries that create an environment to thrive.

Project Nigeria will still work and we know our leaders (both the current old & and younger upcoming ones) are realising the current status.

By the time it'll happen and Nigeria starts working as it ought, it'll surprise the whole world including our citizens in diaspora.