A review of Nigeria’s 2025 Fiscal Appropriation Act reveals that the President Bola Tinubu-led government plans to allocate N1.8 billion for acquiring, renovating, and rehabilitating properties forfeited by the Economic and Financial Crimes Commission (EFCC). These properties will be repurposed as State House quarters in Abuja.
Additionally, the Nigerian government intends to spend N5.4 billion on the annual maintenance of the Presidential Villa in Abuja. The budget document specifies that N1,830,783,061 will be spent on EFCC forfeited properties, surpassing the funds allocated for essential development projects. Notably, the N1.8 billion for property acquisition exceeds the combined total of N805 million for educational facilities, and N820 million for health facilities and equipment in Nigeria’s six geopolitical zones.
In his address presenting the 2025 budget to the National Assembly, President Tinubu emphasized that the proposal, dubbed the “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” aligns with his Renewed Hope Agenda. He reaffirmed the government’s commitment to stabilizing the economy, enhancing human capital, and fostering growth across key sectors such as oil, gas, and manufacturing.
Despite the challenges, Tinubu expressed confidence in both the resilience of Nigeria’s economy and its people, as the government continues to prioritize economic restoration and development.