President Bola Tinubu has officially signed the N54.99 trillion 2025 appropriation bill into law, representing a 99.96 percent increase from the 2024 budget of N27.5 trillion.
The national assembly approved the bill on February 13, following revisions to Tinubu’s initial budget proposal of N49.7 trillion.
The key components of the 2025 budget include total expenditure of N54.99 trillion, statutory transfers amounting to N3.65 trillion, and a recurrent (non-debt) expenditure of N13.64 trillion.
Additionally, the budget outlines capital expenditure of N23.96 trillion, debt servicing costs of N14.32 trillion, and a deficit-to-gross domestic product (GDP) ratio of 1.52 percent.
