The ₦54.99 trillion 2025 Appropriations Bill has been signed into law by President Bola Tinubu.
The 2024 appropriation bill of ₦27.5 trillion is 99.96% lower than the 2025 budget.
It was signed by Tinubu on Friday at the State House, Abuja. The bill was upped from the Nigerian leader’s original submission of ₦49.7 trillion.
Following a number of changes, the bill was adopted by the National Assembly on February 13.
According to a breakdown of the budget, statutory transfers total ₦3.65 trillion, and total expenditures total ₦54.99 trillion. ₦13.64 trillion is the recurring (non-debt) expenditure.
The capital expenditure is ₦23.96 trillion; debt servicing is taking ₦14.32 trillion, while the deficit-to-gross domestic product (GDP) ratio was pegged at 1.52%.
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