President Bola Ahmed Tinubu has signed into law the 2025 Appropriation Bill of ₦54.99 trillion.
The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of the leadership of the National Assembly and other senior government officials.
The budget was passed by the two chambers of the National Assembly on Thursday, February 13, after President Tinubu submitted a proposal to increase it from the initial ₦49.7 trillion.
The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.
This increase reflects additional anticipated revenues from agencies such as the Federal Inland Revenue Service and the Nigeria Customs Service.
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2025 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%
This budget marks a significant fiscal expansion, with increased allocations for capital projects and debt servicing.
Details later…
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