President Bola Tinubu has officially signed the 2025 Appropriation Bill, amounting to ₦54.99 trillion, into law. The signing ceremony took place on Friday at the Presidential Villa in Abuja, with the leadership of the National Assembly and other senior government officials in attendance.

The budget, initially proposed at ₦49.7 trillion by the President, was increased by lawmakers before its final approval. Both chambers of the National Assembly passed the bill on Thursday, February 13, paving the way for its enactment.

The 2025 Appropriation Act marks a substantial 99.96% increase from the previous year’s budget of ₦27.5 trillion. This expansion underscores the administration’s commitment to economic growth, infrastructural development, and debt management.

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 2025 budget prioritizes capital expenditure, with ₦23.96 trillion allocated to infrastructure and development projects. Additionally, ₦14.32 trillion has been earmarked for debt servicing, reflecting the government’s strategy to manage its financial obligations efficiently.

This budget is expected to drive economic growth, create jobs, and enhance public services while ensuring fiscal responsibility. Experts anticipate that the implementation of this expansive budget will have a significant impact on Nigeria’s economic landscape in the coming year.