The President, Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu has signed the 2025 Appropriation Bill of ₦54.99 trillion into law at the Presidential Villa on Friday in Abuja.
The budget was passed by both chambers of the National Assembly on Thursday, February 13, after lawmakers increased it from the initial ₦49.7 trillion submitted by the President.
The 2025 Appropriation Act, signed in the presence of National Assembly leadership and other senior government officials, represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.
This breakdown of 2025 Budget:
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.