President Bola Tinubu has signed the ₦54.99 trillion 2025 budget into law, marking a nearly 100% increase from 2024. The budget prioritizes capital projects, debt servicing, and recurrent expenditures. With a deficit-to-GDP ratio of 1.52%, the government aims to drive economic growth while addressing financial challenges.
President Bola Tinubu has officially signed the ₦54.99 trillion 2025 Appropriation Bill into law. The signing ceremony took place at the Presidential Villa in Abuja on Friday, with key members of the National Assembly and government officials in attendance.
The budget, originally proposed at ₦49.7 trillion, was increased by lawmakers before its approval on February 13. The final budget represents a nearly 100% rise compared to the ₦27.5 trillion allocated in 2024.
A significant portion of the budget is directed towards capital expenditure, with ₦23.96 trillion allocated to infrastructure and developmental projects. Debt servicing takes up ₦14.32 trillion, while ₦13.64 trillion is earmarked for recurrent expenses. Statutory transfers account for ₦3.65 trillion.
The fiscal expansion in the 2025 budget underscores the government's commitment to boosting infrastructure and addressing economic challenges. However, concerns remain over Nigeria’s growing debt profile and the sustainability of increased spending.
With a deficit-to-GDP ratio set at 1.52%, the administration aims to balance economic growth with fiscal responsibility. The passage of the budget highlights the government's focus on funding key sectors while managing its debt obligations.
