President Bola Tinubu has officially signed the 2025 Appropriation Bill of ₦54.99 trillion into law, marking a significant fiscal milestone in Nigeria’s economic landscape.
The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of the National Assembly leadership and senior government officials.
The National Assembly passed the budget on February 13, 2025, after increasing the initial ₦49.7 trillion proposal submitted by the President. The 2025 budget reflects a 99.96% increase from the ₦27.5 trillion approved for 2024, underscoring the administration’s commitment to infrastructure development and debt servicing.
Key Budget Breakdown:
- Total Expenditure: ₦54.99 trillion
- Statutory Transfers: ₦3.65 trillion
- Recurrent (Non-Debt) Expenditure: ₦13.64 trillion
- Capital Expenditure: ₦23.96 trillion
- Debt Servicing: ₦14.32 trillion
- Deficit-to-GDP Ratio: 1.52%
The budget prioritizes capital projects, with a substantial allocation for infrastructure development, while addressing the nation’s rising debt obligations.
This fiscal blueprint is expected to drive economic growth, job creation, and infrastructural advancement across various sectors.
