President Bola Tinubu has 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 budget on February 13 after making adjustments to Tinubu’s initial proposal of N49.7 trillion.
A breakdown of the 2025 budget includes a total expenditure of N54.99 trillion, statutory transfers of N3.65 trillion, and recurrent (non-debt) spending of N13.64 trillion.
Other key components include capital expenditure of N23.96 trillion, debt servicing of N14.32 trillion, and a deficit-to-GDP ratio of 1.52 percent.
