President Bola Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law. This marks a significant increase from the initial proposal of N49.7 trillion and the 2024 budget of N27.5 trillion.
The budget breakdown includes:
– Total Expenditures: N54.99 trillion
– Statutory Transfers: N3.65 trillion
– Recurrent (Non-Debt) Expenditure: N13.64 trillion
– Debt Servicing: N14.32 trillion
Tinubu praised the collective efforts of his administration and Nigerians, highlighting the country’s progress despite initial challenges. He noted improvements in GDP growth, revenue, and exchange rate stability.
The National Assembly’s approval of the budget followed Tinubu’s request for an increase, citing additional revenues from agencies like the Federal Inland Revenue Service and the Nigeria Customs Service.
Senate President Godswill Akpabio commended Tinubu’s administration, assuring the National Assembly’s support for policies that alleviate Nigerians’ suffering.
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