President Tinubu signs N54.99trn 2025 budget

President Bola Ahmed Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law.

 The bill was passed by the National Assembly on February 13, 2025, after being increased from the initial figure of N49.7 trillion submitted by President Tinubu.

The budget was signed during a brief ceremony in the President’s office, on Friday, February 28.

The 2025 Appropriation Act represents a 99.96% increase from the 2024 Budget of N27.5 trillion.

The breakdown of the 2025 budget shows a total Expenditure of N54.99 trillion; Statutory Transfers: N3.65 trillion; Recurrent (Non-Debt) Expenditure: N13.64 trillion; Capital Expenditure: N23.96 trillion; Debt Servicing: N14.32 trillion; Deficit-to-GDP Ratio: 1.52%.

The budget was signed in the presence of the National Assembly leadership led by the President of the Senate, Senator Godswill Akpabio.