President Tinubu Signs 2025 Budget into Law

The budget is almost a 100 per cent increase from the 2024 budget of N27.5 trillion.

The bill was approved by the National Assembly on February 13, after revisions to President Tinubu’s initial budget proposal of N49.7 trillion.

The key breakdown of the 2025 budget includes a total expenditure of N54.99 trillion, statutory transfers of N3.65 trillion, and a recurrent (non-debt) expenditure of N13.64 trillion.

Initially, President Tinubu proposed a N49.7 trillion budget for 2025. However, following additional revenue projections from key government agencies, the proposed figure was revised upward to N54.2 trillion on February 5, 2024.

The final approved budget then stood at N54.99 trillion after deliberations in the National Assembly.

According to Senate President Godswill Akpabio, the increase was justified by new revenue inflows from key agencies, which are expected to strengthen the fiscal framework for 2025.

The budget aims to stimulate economic growth, improve infrastructure, and address fiscal challenges, despite concerns about Nigeria’s rising debt profile.

The breakdown of the 2025 budget is thus: total expenditure: 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; fiscal deficit: N13.08 trillion; and deficit-to-GDP Ratio: 1.52 per cent.