This marks a 99.96% increase from the 2024 budget of ₦27.5 trillion, reflecting the administration’s commitment to infrastructure, economic growth, and debt management.
President Bola Tinubu has signed the ₦54.99 trillion 2025 Appropriation Bill into law. The bill was signed on Friday at a brief ceremony at the State House in Abuja.
Parliament Reports recalls that the bill, was passed by the National Assembly on February 13, after increasing it from the initial N49.7 trillion as requested by President Tinubu.
This marks a 99.96% increase from the 2024 budget of ₦27.5 trillion, reflecting the administration’s commitment to infrastructure, economic growth, and debt management.
Key Highlights of the 2025 Budget:
•Total Budget: ₦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%
President Tinubu had earlier proposed a budget of N49.7 trillion for the fiscal year, which he presented to a joint session of the National Assembly on December 18, 2024
President Tinubu’s request for an increase stemmed from additional revenue gains:
•₦1.4 trillion from the Federal Inland Revenue Service (FIRS)
•₦1.2 trillion from the Nigeria Customs Service
•₦1.8 trillion from other government agencies
READ ALSO: 2025 Budget: Senate passes N54.9 trillion bill, adds N750 billion
Legislative Adjustments
Following a review prompted by technical errors, the National Assembly adjusted allocations to ensure proper funding for salaries, pensions, and overhead costs. This led to an increase in recurrent expenditure by ₦524 billion, offset by a reduction in capital expenditure.
Despite the revisions, the total budget size remained at ₦54.99 trillion, and the bill was subsequently transmitted to President Tinubu for assent.
