Tinubu signs N54.99 trillion 2025 budget into law

This marks a significant 99.96% increase from the ₦27.5 trillion budget of 2024.

The signing took place at the State House in Abuja today following the National Assembly’s approval on February 13 after several revisions.

Initially proposed at ₦49.7 trillion, the budget was later increased.

Key Highlights of the 2025 Budget:Total Expenditure: ₦54.99 trillion, Statutory Transfers: ₦3.65 trillion, Recurrent (Non-Debt) Expenditure: ₦13.64 trillion, Capital Expenditure: ₦23.96 trillion, Debt Servicing: ₦14.32 trillion, Deficit-to-GDP Ratio: 1.52%

Earlier this month, Tinubu informed the National Assembly of budget adjustments, attributing the increase to additional revenues from the Federal Inland Revenue Service (₦1.4 trillion), Nigeria Customs Service (₦1.2 trillion), and other government agencies (₦1.8 trillion).

When presenting the budget proposal on December 18, 2024, Tinubu described it as “The Restoration Budget,” emphasizing its focus on economic stability, business growth, employment, poverty reduction, and human capital development.

The government projects ₦34.8 trillion in revenue for 2025 and an expenditure of ₦49.7 trillion, including ₦15.81 trillion for debt servicing. The budget deficit is estimated at ₦13 trillion (3.89% of GDP).

Additionally, Tinubu expressed optimism that inflation would decline from 34.6% to 15% and that the exchange rate would improve from ₦1,700/$ to ₦1,500/$.