President Bola Ahmed Tinubu has officially signed the N54.99 trillion 2025 Appropriation Bill into law.
The bill, which was passed by the National Assembly on February 13, 2025, was revised from the initial N49.7 trillion proposed by President Tinubu.
The signing ceremony took place in the President’s office on Friday, February 28, 2025.
This year’s budget marks a remarkable 99.96% increase over the 2024 Budget of N27.5 trillion.
The 2025 budget is broken down as follows: Total Expenditure of 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; and a Deficit-to-GDP Ratio of 1.52%.
The signing was witnessed by the leadership of the National Assembly, headed by Senate President Senator Godswill Akpabio.
