President Bola Tinubu has signed the ₦54.99 trillion 2025 Appropriation Bill into law.
The 2025 budget is 99.96% higher than the 2024 appropriation bill of ₦27.5 trillion.
Tinubu signed it in his office at the State House in Abuja on Friday. The bill was increased from the initial figure of ₦49.7 trillion the Nigerian leader submitted.
The National Assembly had on February 13th approved the bill after a series of revisions.
A breakdown of the budget shows that it includes a total expenditure of ₦54.99 trillion and statutory transfers of ₦3.65 trillion. The recurrent (non-debt) expenditure is ₦13.64 trillion.
The capital expenditure is ₦23.96 trillion, debt servicing is taking ₦14.32 trillion) while deficit-to-gross domestic product (GDP) ratio was pegged at 1.52%.
