FCT, Abuja – President Bola Tinubu has signed the 2025 Appropriation Bill of ₦54.99 trillion into law.
The signing ceremony took place on Friday, February 28, at the Presidential Villa, Abuja, in the presence of Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, and other senior government officials.
The budget, initially proposed at ₦49.7 trillion, was increased by the National Assembly before its final passage on February 13.
The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion, marking the largest fiscal plan in Nigeria’s history.
2025 budget: Key allocations and economic implications
The budget prioritizes capital expenditure, debt servicing, and recurrent expenses.
Below is a 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%
Full details later…
