Nigerian financial expert and CEO of CFG Advisory, Adetilewa Adebajo, has emphasized the non-allocation of funds to fuel subsidies as the most significant aspect of the newly signed N54.99 trillion 2025 budget.
Speaking in a recent interview on Arise Television, Adebajo analyzed the budget following its approval by both chambers of the National Assembly and its subsequent signing into law by President Bola Ahmed Tinubu on Friday.
The final 2025 budget exceeded the initial N54.2 trillion proposal and nearly doubled the N27.5 trillion budget of the previous year. Key parameters include an exchange rate benchmark of a N1500 per dollar, an interest rate set at 15% (down from the current 24.48%), and a crude oil production target of 2.06 million barrels per day at a benchmark price of $75 per barrel.
Highlighting a major shift, Adebajo pointed out that, for the first time in years, no funds were allocated for fuel subsidies, which had consumed approximately N4 trillion in 2024.
“One of the most important things for me in the 2025 budget that people are not highlighting is that, for the first time in a long while, no funds were allocated to fuel subsidy. I think this is something very important,” Adebanjo stated.
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