The Federal Government has set aside N27 billion in the 2025 fiscal year for the entitlements of former presidents, vice-presidents, heads of state, chiefs of staff, retired heads of service, and professors.
This allocation will benefit notable figures such as former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, alongside ex-vice-presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo.
Retired military leaders, including General Yakubu Gowon, General Abdulsalami Abubakar, and former military president Ibrahim Babangida, are also listed as beneficiaries.
President Bola Tinubu, in presenting the N49.70 trillion budget proposal titled ‘Budget of Restoration Securing Peace, Rebuilding Prosperity,’ to the National Assembly, emphasized the administration’s focus on defence, infrastructure development, and human capital investment.
However, the ambitious spending plan also includes a significant N13.39 trillion deficit, which is expected to be financed through borrowing.
The N27 billion allocation for ex-leaders’ entitlements includes N2.3 billion for former presidents, vice-presidents, and heads of state, while retired heads of service and permanent secretaries will receive N10.5 billion.
Retired professors are set to get N13.5 billion, and retired heads of government agencies and parastatals will receive N1 billion.
Additionally, N46 billion has been earmarked for civilian pensions, N383.9 billion for military pensions and gratuities, and N66.8 billion for expected retirees.
The budget also addresses verification exercises, security debarment allowances, and arrears dating back to 2017.
In the area of social welfare, the Federal Government has allocated N500 billion for education loans and national poverty alleviation programs.
This includes N50 billion for the Nigerian Education Loan Fund, which has already disbursed N104 billion to over 613,000 students since its establishment earlier this year.
Furthermore, the budget allocates N250 billion to the National Poverty Reduction with Growth Strategy programs, aimed at expanding social investment initiatives.
The National Home Grown School Feeding Programme and Consumer Credit Fund initiatives will each receive N100 billion.
The 2025 budget seeks to address lingering issues such as pension arrears and minimum wage-related adjustments while focusing on strengthening national security and overhauling critical infrastructure.
As Nigerians look forward to the implementation of these allocations, there is cautious optimism about the government’s ability to translate this ambitious budget into tangible benefits for the populace.