By Muhammad Amaan
Nigeriaโs President Bola Ahmed Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law.
The 2025 budget is 99.96% higher than the 2024 appropriation bill of N27.5 trillion.
President Tinubu signed the budget in his office at the State House in Abuja on Friday.
The bill was increased from the initial figure of N49.7 trillion the Nigerian leader submitted.
The National Assembly had on February 13 approved the bill after a series of revisions.
The budget breakdown shows that N3.645 trillion was earmarked for Statutory Transfers, N14.317 trillion for Debt Servicing, while N13.64 trillion and N23.963 trillion were set aside for Recurrent Expenditure and Capital Expenditure (Development Fund) respectively.
The capital expenditure is N23.96 trillion, debt servicing is taking N14.32 trillion, while deficit-to-gross domestic product (GDP) ratio was pegged at 1.52%.
The the document also shows that N14.317 trillion is set aside for debt servicing, reflecting Nigeriaโs fiscal obligations while Recurrent Expenditure, covering salaries, overheads, and government operations, amounts to N13.64 trillion.
