FG Allocates ₦27 Billion For Ex-Leaders' Benefits In 2025 Budget

FG Allocates ₦27 Billion for Ex-Leaders’ Benefits in 2025 Budget

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The Federal Government has allocated ₦27 billion for the entitlements of former presidents, vice presidents, military heads of state, retired chiefs of staff, heads of service, and university professors as part of the 2025 fiscal budget.

Who Benefits from the ₦27 Billion Allocation?

Key beneficiaries include notable figures such as:

Former Presidents: Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari.
Former Vice Presidents: Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo.
Ex-Military Heads of State: Gen. Yakubu Gowon (retd.), Gen. Abdulsalami Abubakar (retd.), and Ibrahim Babangida (retd.).
Other Beneficiaries: Retired Chief of General Staff Commodore Ebitu Ukiwe and university professors.

Breakdown of the Budget Allocation

The budget, presented by President Bola Ahmed Tinubu and titled ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity’, includes a comprehensive spending plan amounting to ₦49.7 trillion. Key allocations include:

Former Leaders and Retirees:
- ₦2.3 billion for former presidents, heads of state, and vice presidents.
- ₦10.5 billion for retired heads of service and permanent secretaries.
- ₦13.5 billion for retired university professors.
- ₦1 billion for retired heads of government agencies and parastatals.
Pensions and Gratuities:
- ₦46 billion allocated for civilian pensions under the Office of the Head of Civil Service.
- ₦383.9 billion set aside for military pensions and gratuities.
- ₦66.8 billion for expected retirees.
- Additional allocations:
  - ₦434 million for administrative charges.
  - ₦596 million for pension running costs.
  - ₦870 million for medical retirees.
Social Investment Programs:
- ₦500 billion for initiatives such as the student loan scheme, National Poverty Reduction with Growth Strategy programs, National Home Grown School Feeding Programme, and Consumer Credit Fund initiatives.
- ₦50 billion is specifically allocated for the student loan scheme.

Budget Priorities

President Tinubu emphasized that the 2025 budget focuses on defense, infrastructure development, and human capital growth. However, with a projected deficit of ₦13.39 trillion, financing will largely depend on borrowing.