President Bola Ahmed Tinubu on Friday signed the N54.99 trillion 2025 Appropriation Bill into law, marking a significant increase from the initial N49.7 trillion proposal submitted to the National Assembly.
The signing ceremony, held in the President’s office at the State House, Abuja, was attended by key government officials, including the President of the Senate, Senator Godswill Akpabio, and other members of the National Assembly leadership.
The 2025 budget represents a 99.96% increase from the N27.5 trillion allocated in 2024.
A breakdown of the budget shows:
Statutory Transfers: N3.65 trillion
Recurrent (Non-Debt) Expenditure: N13.64 trillion
Capital Expenditure: N23.96 trillion
Debt Servicing: N14.32 trillion
Deficit-to-GDP Ratio: 1.52%
The budget is expected to drive economic growth, infrastructure development, and social welfare programs, in line with the administration’s commitment to improving the standard of living in Nigeria.
Speaking at the event, President Tinubu reaffirmed his administration’s commitment to fiscal responsibility and economic stability, assuring Nigerians that the budget would be efficiently implemented to address pressing national issues, including security, education, healthcare, and job creation.
The signing of the budget paves the way for the commencement of the 2025 fiscal year, with ministries, departments, and agencies (MDAs) expected to begin budget implementation immediately.
