President Bola Tinubu on Friday signed the 2025 Appropriation Bill of ₦54.99 trillion into law.
The 2025 Appropriation Act represents a 99.96 percent increase from the 2024 Budget of ₦27.5 trillion.
247nextnews.com reports that the bill was passed by the National Assembly on February 13, 2025, after increasing it from the initial ₦49.7 trillion submitted by the President.
The 2025 budget has a total expenditure component of ₦54.99 trillion, statutory transfers of ₦3.65 trillion and recurrent (Non-Debt) expenditure of ₦13.64 trillion.
The capital expenditure component is ₦23.96 trillion, debt servicing of ₦14.32 trillion and deficit-to-GDP Ratio of 1.52 per cent.
Present at the brief ceremony in the Aso Rock, Presidential Villa, Abuja, to witness the signing of the budget were Senate President Godswill Akpabio and other leaders of the National Assembly.
