Borrowing will fund ₦13 trillion 2025 budget deficit – FG
Story by Victor Itodo ABUH
Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has disclosed that the ₦13 trillion deficit in the proposed ₦48 trillion 2025 budget would be funded through borrowing.
Edun disclosed this while addressing State House correspondents after the Federal Executive Council (FEC) meeting held at the Presidential Villa, Abuja.
According to the News Agency of Nigeria (NAN), the 2025 budget projects a total revenue of ₦34.82 trillion, while expenditures are pegged at ₦47.96 trillion marking a 36.8% increase from the 2024 estimates. This results in a deficit of ₦13.14 trillion, equivalent to 3.89% of the nation’s GDP.
The minister highlighted that the budget aligns with progress made under President Bola Tinubu’s administration over the past 18 months, as well as global fiscal realities.
“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,” Edun stated.
Edun emphasised the government’s commitment to private sector-driven economic growth, noting significant policy reforms, including market-driven pricing for petroleum products, foreign exchange adjustments, and improvements in electricity pricing.
“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,” he said.
Read also: FEC approves ₦34.820trn budget for 2025
He further highlighted economic milestones, such as the return of domestic petroleum refinement after 25 years, which promises raw materials for industries ranging from pharmaceuticals to textiles.
Edun concluded that the budget prioritises critical government spending while creating avenues for increased private-sector investment, signalling optimism for sustained economic recovery.
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