Victor EzejaPresident Bola Tinubu has signed the ₦54.99 trillion 2025 budget into law. The president signed the Appropriation Bill on Friday in his office at the State House in Abuja.
The bill was raised from the ₦49.7 trillion originally proposed and presented to the National Assembly in December 2024 by President Tinubu.
Join our WhatsApp ChannelThe 2025 budget of ₦54.99 trillion increased by 99.96 per cent from the 2024 appropriation bill of ₦27.5 trillion.
Prime Business Africa reports that following a series of changes, the bill was passed by the National Assembly on 13 February.
According to a breakdown of the budget, out of a total expenditure of ₦54.99 trillion, ₦13.64 trillion is the recurring (non-debt) expenditure, and Capital expenditures total ₦23.96 trillion. Statutory transfers total ₦3.65 trillion, debt servicing costs ₦14.32 trillion, and the deficit-to-GDP ratio was estimated to be 1.52%.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
