Nigeria’s Economic Renaissance: Hon Ugbor hails N47.96trn Budget as catalyst for stability, growth, prosperity

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By Joy Odor

The Deputy House Committee Chairman on Environment, Hon. Terseer Ugbor on Wednesday informed that the N47.96 trillion budget presented by President Bola Tinubu demonstrates the government’s unwavering commitment to Nigeria’s development agenda.

The budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity, according to Ugbor prioritizes key sectors such as defense and security, infrastructure, health, and education which aims to restore macroeconomic stability, enhance the business environment, and promote inclusive growth, employment, and poverty reduction.

The Lawmaker who made this known to newsmen in an interview shortly after the budget presentation said Defense and Security: N4.91 trillion to secure the nation and protect its borders, Infrastructure: N4.06 trillion to accelerate investments in energy, transport, and public works, Health: N2.48 trillion to strengthen primary healthcare systems and Universal Health Coverage initiatives
Education: N3.52 trillion, including N826.90 billion for infrastructure development in the educational sector.

The Lawmaker mentioned that the critical areas would drive economic growth and improve the lives of Nigerians, despite the challenges posed by insecurity, climate change, and other regional issues and expressed confidence that President Tinubu’s 2025 budget will deliver significant democratic dividends to Nigerians.

Rep Ugbor reiterated that the government is determined to meet the expectations of Nigerians, particularly in the areas that matter most to the people.

The Deputy Committee Chairman commended the President’s efforts to ensure that local government autonomy and constituency projects are fully funded, so the impact of federal resources reaches even the most remote communities.

He encouraged patience, reminding Nigerians that while President Tinubu has only been in office for 18 months, the impact of the reforms would become evident in due time.

He assured Nigerians that the 2025 budget would result in widespread benefits, with numerous construction projects and infrastructure developments reaching every local government and community.

“We must be patient, as the fruits of these reforms will be seen at the grassroots level. The President’s focus on local government autonomy is a critical step in ensuring that every Nigerian feels the impact of this budget.

“This budget is the beginning of a transformative journey for Nigeria, and I am confident that we will see real change in every local government.

“This budget, as presented by the President, is a budget of hope. It clearly sets high expectations, especially in the three or four critical areas of our economic development: infrastructure, education, healthcare, and agriculture.

“These are the areas the President is focusing on, along with security, which accounts for a significant portion of the $1.4 trillion budget allocated to security alone.

“We believe the government is committed to delivering the dividends of democracy to our people, particularly as we are not constrained by challenges in some agricultural states and constituencies that have suffered from insecurity, banditry, and climate change.

“The government is prioritizing the issues that matter most to me personally, to my constituents, and to Nigerians in general. We are proud of the progress made so far. This budget is quite ambitious—4.7 trillion naira, the highest ever—but with the reforms in place, I believe we will succeed.

“Each year, the budget continues to grow, which reflects the increasing commitment to its impact. As the President has said, he has been in office for just 18 months, and one and a half years is a very short time to achieve meaningful reforms. I encourage our people to be patient so we can see the effects of the reforms, with the benefits reaching the grassroots.

“The President has demonstrated his commitment to this goal, particularly through efforts such as pushing for local government autonomy. He has also ensured that constituency projects by members of the National Assembly are funded and implemented fully, so that the impact of the budget can reach the grassroots.

“It is through the National Assembly that some local governments across the country will feel the benefits of the federal government. This is what the President has accomplished this year.

“I am confident that the current budget will result in significant progress, and Nigerians can rest assured that many projects, including construction initiatives, will reach every single local government and community in the country” he maintained.

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