On Friday, President Bola Ahmed Tinubu officially signed the ₦54.99 trillion 2025 appropriation bill into law at the presidential villa in Abuja.
This significant event followed the bill’s approval by both Chambers of the National Assembly on Thursday, February 13, after amendments were made to the initial proposal of N49.7 trillion put forth by President Tinubu.
The 2025 Appropriation Act marks a substantial 99.96% increase from the previous year’s budget of N27.5 trillion. The breakdown of the budget is as follows: 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 signing ceremony took place in the President’s office and was a brief yet significant moment in the country’s fiscal planning for the upcoming year.
This budget allocation reflects the government’s commitment to addressing key priorities and driving economic growth in Nigeria.
Details shortly…..
