President Bola Tinubu has officially signed the 2025 budgetary appropriation bill into law, marking the completion of the budget approval process.
The National Assembly passed a total of N54.99 trillion for the 2025 fiscal year, up from the initially proposed N49.7 trillion. This increase came after President Tinubu requested a boost, leading to a final approved amount of N54.2 trillion.
The breakdown of the budget reveals significant allocations: N3.645 trillion is dedicated to statutory transfers, while N14.317 trillion is earmarked for debt servicing, reflecting the nation’s ongoing fiscal commitments. Additionally, N13.64 trillion will go towards recurrent expenditure, covering salaries, overheads, and government operations, while N23.963 trillion is allocated for capital expenditure (the Development Fund), aimed at funding infrastructure and development projects.
