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%.
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Speaking after signing the budget, Tinubu said that disciplined focus and diligence shall be the benchmark for implementing the 2025 “Budget of Restoration”.
He said the budget will drive growth, stability, and prosperity across various sectors, including security, infrastructure, healthcare, education, and agriculture.
He emphasised that the 2025 Budget of Restoration reaffirms the government’s commitment to securing the future, rebuilding prosperity, and ensuring every Nigerian benefits from governance.
The president highlighted several achievements, including: National GDP growth to 3.86 per cent in the last quarter of 2024, the fastest in three years; revenue increase to N21.6 trillion in 2025 from N12.37 trillion in 2024, reflecting the drive for fiscal efficiency.
The Nigerian leader also stated that deficit had reduced significantly from 6.2 per cent in 2023 to 4.17 per cent in 2025.
He also noted that forex reforms has restored investor confidence, stabilizing the markets.
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“Today, we take another bold step in Our nation’s journey of economic recovery, stability, and growth with the signing of the 2025 Budget of Restoration. We reaffirm our commitment to securing our future, rebuilding prosperity, and ensuring that every Nigerian shares in the dividends of governance.
“The past year tested our resolve. But through economic discipline and strategic reforms, we achieved what many deemed impossible. After the initial turbulent take-off, our people can see signs of progress and the promise of a better future. Our economy is turning the corner,” the President said.
Tinubu also outlined the government’s investments in critical sectors, including:
– National Security: ₦6.11 trillion, the highest defense allocation in Nigeria’s history.
– Infrastructure: ₦5.99 trillion, for major rail, road, and energy projects.
-Human Capital Development: ₦5.70 trillion, for healthcare, education, and skills development.
– Agriculture and Food Security: ₦3.73 trillion, to boost local food production.
The president emphasised the importance of fiscal discipline, ensuring that every naira spent is backed by actual revenue, and avoiding reckless borrowing.
“This budget is bold, ambitious, and necessary. However, let me be clear: We cannot spend what we do not have.
“While we have significantly reduced the deficit, we must ensure that we back every naira spent with actual revenue. We will not burden future generations with reckless borrowing. Instead, we will expand government revenues through efficiency reforms and enhanced earnings; accelerate public-private partnerships and foreign investments to finance key projects,” Tinubu said.
The president also said every government agency would be held countable for prudent spending and value-for-money initiatives.
Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbass, and Senate Committee Chairman on Appropriation Sen. Solomon Adeola witnessed the budget signing ceremony.
He expressed gratitude to the National Assembly for passing the budget in record time and committed to working together to ensure smooth budget implementation.
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.
