The Federal Government has earmarked ₦27 billion in the 2025 fiscal year to cover entitlements for former presidents, vice presidents, heads of state, chiefs of staff, retired heads of service, and university professors.
Among the beneficiaries are former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, as well as ex-vice presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo.
Others include retired military heads of state Gen. Yakubu Gowon and Gen. Abdulsalami Abubakar, former military president Ibrahim Babangida, and retired Chief of General Staff Commodore Ebitu Ukiwe.
This allocation is part of the ₦49.70 trillion 2025 budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” which was presented by President Bola Tinubu to the National Assembly on Wednesday.
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The budget emphasizes defense, infrastructure, and human capital development, with a significant ₦13.39 trillion deficit to be financed through borrowing.
The ₦27 billion allocation for former leaders and retired professionals includes ₦2.3 billion for former presidents, vice presidents, and heads of state.
₦10.5 billion in the budget is also earmarked for retired heads of service and permanent secretaries, ₦13.5 billion for retired university professors, while ₦1 billion is set aside for retired heads of government agencies and parastatals.
In addition to these allocations, the Federal Government has set aside ₦1.4 trillion for pensions, gratuities, and retirees’ benefits.
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The budget also emphasizes social welfare and investment programs, allocating ₦500 billion to initiatives like the student loan scheme, National Poverty Reduction with Growth Strategy programs, National Home-Grown School Feeding Programme, and the Consumer Credit Fund. Out of this, ₦50 billion is specifically reserved for the student loan scheme.