President Bola Ahmed Tinubu has officially signed the N54.99 trillion 2025 Appropriation Bill into law.
The signing took place on Friday during a brief ceremony in his office, attended by key government officials, including Senate President Godswill Akpabio.
The budget, originally proposed at N49.7 trillion, was increased by the National Assembly before being passed on February 13, 2025. It marks a significant rise from the N27.5 trillion budget of 2024, representing a 99.96% increase.
A breakdown of the budget shows that ₦3.65 trillion is allocated for statutory transfers, while recurrent (non-debt) expenditure stands at ₦13.64 trillion.
Capital expenditure accounts for ₦23.96 trillion, with ₦14.32 trillion earmarked for debt servicing. The budget also reflects a deficit-to-GDP ratio of 1.52%.
The approval of the 2025 budget reinforces the government’s financial strategy for the year, focusing on infrastructure, governance, and economic stability.
