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BREAKING: President Tinubu Presents N47.9trn Appropriation Bill To NASS

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…improvement witnessed in 2024 led us to 2025 budget – Tinubu
…say “Time for lamentation is over”
By Gloria Ikibah
President Bola Ahmed Tinubu in a Joint Session of the Senate and House of Representatives on Wednesday, 18 December 2024, presented the sum of N47.9 trillion as the proposed 2025 Appropriation Bill, with new borrowings of N13.0 trillion, which is 3.87 per cent of the estimated Gross Domestic Product (GDP).
The President, in his address to the National Assembly described the 2025 Budget as the “Budget of Restoration” which he said, reinforces the administration’s roadmap to secure peace, prosperity, and hope for a greater future for Nigeria.
“This budget christened, “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” strikes at the very core of our Renewed Hope Agenda and demonstrates our commitment to stabilizing the economy, improving lives, and repositioning our country for greater performance.”
The budget of restoration according to president Tinubu, serves as the very hope of the Renewed Hope Agenda and improving the lives of Nigerians.
He said the 2025 budget is one of the reform and transformation to consolidate the key policies of the Tinubu-led administration. Reeling out the progress made he said global economic growth for Nigeria increased from the 2.6% estimated to 3.5% growth.
Naijablitznews.com recalled that the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), and its fiscal parameters, adopted an “an oil price benchmark of $75 per barrel for 2025, oil production of 2.06 million barrels per day, an exchange rate of N1400 to $1, and a GDP growth of 4.6 per cent.”
President Tinubu said the 2025 budge seeks to restore micro economic stability, foster increased growth, employment, human capital development.
He said: “The journey of economic renewal and institutional development, which we began 18 months ago as a nation, is very much underway. It is not a journey of our choosing but one we had to embark on for Nigeria to have a real chance at greatness. I thank every Nigerian for embarking on this journey of REFORMS and TRANSFORMATION with us.
“The road of reforms is now clearly upon us, and as the President of this blessed nation, I know this less-travelled road has not been easy. That there have been difficulties and sacrifices. They will not be in vain. And we must keep faith with the process to arrive at our collectively desired destination.
“We must build on the progress we have made in the past eighteen months in restructuring our economy and ensuring it is strong enough to withstand the headwinds of any future shocks of the global downturn.
“The 2025 budget that I present today is one of restoration. It seeks to consolidate the key policies we have instituted to restructure our economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.
“We do not intend to depart from this critical path to strengthen the Nigerian economy. Just as I believe in the resilience of our economy to withstand the current challenges, I also strongly believe in the resilience of the Nigerian people. Again, I summon the unstoppable Nigerian spirit to lead us on as we work to rebuild the fabric of our economy and existence.
“The improvements we witnessed in the 2024 budget have led us into the 2025 budget. The goals of advancing national security, creating economic opportunities, investing in our youthful population, infrastructure development, and national re-orientation form the core of the 2025 budget. But more than that, this will lay a solid foundation for Nigeria’s future growth trajectory”.
The President said the reforms instituted are beginning to yield results and Nigerians will soon experience a better and more functional economy.
According to him, these clear results of gradual recovery, among others, reflect the resilience of our economy and the impact of deliberate policy choices we made from the outset.
“Global economic growth for the outgoing year 2024 was projected at 3.2 percent, and against predictions, our country made significant progress.
“Our economy grew by 3.46 percent in the third quarter of 2024, up from 2.54 percent in the third quarter of 2023.
“Our Foreign Reserves now stand at nearly 42 billion US dollars, providing a robust buffer against external shocks.
“Our rising exports are reflected in the current trade surplus, which now stands at 5.8 trillion naira, according to the National Bureau of Statistics.
Tinubu informed that his administration attained remarkable milestones in implementing the 2024 Budget.
“In 2024, we achieved: 14.55 trillion naira in revenue, meeting 75 percent of our target as of the third quarter; 21.60 trillion naira in expenditure, representing 85 percent of our target, also in the third quarter.
“While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects of this on our economy are gradually being felt”, the President added.
Hw explained that the budgetary allocations reflect the administration’s strategic priorities, especially in the implementation of the Renewed Hope Agenda and its developmental objectives.
The 2025 Budget President said seeks to restore macroeconomic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction and promote equitable income distribution and human capital development.
“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.
“A total of 13.08 trillion naira, or 3.89 percent of GDP, will make up the budget deficit. This is an ambitious but necessary budget to secure our future.
“The Budget projects inflation will decline from the current rate of 34.6 percent to 15 percent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day (mbpd).
These projections the President said are based on reduced importation of petroleum products alongside increased export of finished petroleum products; bumper harvests, driven by enhanced security, reducing reliance on food imports; ncreased foreign exchange inflows through Foreign Portfolio Investments; and higher crude oil output and exports, coupled with a substantial reduction in upstream oil and gas production costs.
Tinubu said the budgetary allocations are informed by the commitment of his administration to security of lives and property, infrastructural development, education and healthcare delivery.
“Our budgetary allocations underscore this administration’s strategic priorities, particularly in advancing the Renewed Hope Agenda and achieving its developmental objectives.
“Highlights of the 2025 Budget Allocations:
• Defence and Security: N4.91 trillion
• Infrastructure: N4.06 trillion
• Health: N2.48 trillion
• Education: N3.52 trillion
He solicited the support of the lawmakers and Nigerians in addressing the country’s challenges
He stated: “The time for lamentation is over. This is a time to act. A time to support and promote greater investment in the private sector. A time for our civil servants to faithfully execute our policies and programmes. It is a time for every Nigerian to look hopefully towards a brighter future because a new day has dawned for us as a nation.
“As your President, I remain committed and resolute to continue to lead the charge.
“This 2025 budget proposal lays the foundation for peace, prosperity, and much needed hope. It is the plan through which a Nigeria where every citizen can dream, work, and thrive in safety can be achieved”.

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Angry investors raid CBEX office, loot assets in Ibadan after digital Platform crash

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A group of angry individuals, on Monday evening, stormed the CBEX office located in the Oke Ado area of Ibadan, Oyo State, looting furniture and other items after the digital trading platform reportedly crashed.

Eyewitnesses said the mob forcibly entered the premises, carting away tables, couches, and other office equipment.

The attack is believed to have been triggered by the sudden collapse of the platform, which allegedly left many users with zero balance in their accounts.

Following the incident, several users expressed frustration and grief over the loss of their investments, with some taking to social media to share their experiences.

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A video circulating online shows a large crowd at the CBEX office, with individuals seen removing various items from the building.

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‘Not something I’d wish on anyone’ — Melinda Gates opens up on divorce

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Melinda Gates, the ex-wife of Microsoft co-founder Bill Gates, has spoken about their divorce in her new book ‘The Next Day’.

Bill and Melinda got married in 1994 but announced their divorce in 2021 — after 27 years together.

In a recent interview on ABC’s Good Morning America, Melinda revealed that she chose to discuss her divorce openly to be true to herself and acknowledge others who have experienced similar situations.

She described the separation as “painful” but also a “transition that had some growth in it”.

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The 60-year-old also emphasised that divorce is a challenging experience for any family and expressed her hope that her story might offer some insight.

“It was important because if I am going to be my most authentic self. People knew I had gone through it,” she said.

“And it is hard on any family, so I write from my perspective. But it’s not something I would wish on anybody — and unfortunately so many families go through it.

“It is a big transition. And for me, while it was painful for sure, I ended up learning some lessons and there was some growth in there, too.”

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Bill and Melinda first met in 1987, when she became a product manager at Microsoft. They married in Hawaii in 1994 and founded the Bill & Melinda Gates Foundation — a nonprofit dedicated to combating global poverty and disease — in 2000.

Following their divorce, Melinda resigned from the foundation in May 2024.

The former couple shares three children: son Rory, 25, and daughters Phoebe, 22, and Jennifer, 28.

In January, Bill described his divorce from Melinda as his “biggest regret in life”.

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SHOCKING! One month after giving birth, woman discovers another baby in her womb

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A woman who had given birth just a month earlier was rushed to the hospital after sensing something was wrong—only to discover she was still carrying another baby.

This unusual incident was shared in a viral post on the social media platform X, formerly known as Twitter.

Woman discover another baby in womb a month after giving birth
Woman discover another baby in womb a month after giving birth.
According to the post, the woman had initially given birth at a hospital and returned home after being stitched.

However, a month later, she began to feel unwell and went back to the hospital, where doctors discovered another child still in her womb.

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She was immediately put into labor again and successfully delivered the second baby.

The post read: “There’s a Xhosa lady on TT who gave birth to a child in March, got stitched and went home. Well, a month later, she felt something was wrong with her, it turns out there was another child in her womb. So, she gave birth again. She now has twins that are a month apart.”

As the post circulated online, concerned users flooded the comment section to share their thoughts and reactions.

See some reactions below:

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@Melo_Malebo: “Idk what’s more shocking, the fact that twins can have different fathers or this one. Also, wasn’t the other one big enough for nurses to see there could still be someone in there ?”

@Fifi_Kumalo: “So the ultrasound didn’t catch the other baby 😳 njani? I know they hide but so confused.”

@Ralph_Nzuza: “When my lil sister got operated they cut the baby on the cheek after the surgery they forgot those scalpels inside her.”

@StraightupGal: “Surely this incompetence is illegal. One can die giving birth, what more when they have stitched your baby up for a couple of more weeks? 🤯😭 Thanks to God she is safe and able to tell the tale.”

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@mgwatyu_: “Must have delivered at a clinic via NVD, Not booked so no scan or late booker. Cannot be a cesarean section. The stiching must have just been for tears.”

@phuti_mathobela: “God works in mysterious ways some people get to experience his ways in this form while some people in their near death experience. He is God’s of miracles.”

WATCH VIDEO:

There’s a Xhosa lady on TT who gave birth to a child in March, got stitched and went home. Well, a month later, she felt something was wrong with her, it turns out there was another child in her womb. So, she gave birth again. She now has twins that are a month apart. 😭

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— Musanathi Writes 🇿🇦 (@Musanathi2) April 14, 2025

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