President Signs ₦54.99 trillion Budget For 2025 Fiscal Year

President Bola Ahmed Tinubu has signed the ₦54.99 trillion 2025 Appropriation Bill into law, which is 

 99.96% higher than the 2024 appropriation bill of ₦27.5 trillion.

President Tinubu signed it in his office at the State House in Abuja on Friday. 

Edu-Biznews recalls that the bill was increased from the initial figure of ₦49.7 trillion  

The National Assembly had on February 13th approved the bill after a series of revisions.

A breakdown of the budget shows that it includes a total expenditure of ₦54.99 trillion and statutory transfers of ₦3.65 trillion. The recurrent (non-debt) expenditure is ₦13.64 trillion. 

The capital expenditure is ₦23.96 trillion, debt servicing is taking ₦14.32 trillion) while deficit-to-gross domestic product (GDP) ratio was pegged at 1.52%.

Earlier in the month, Tinubu wrote to the National Assembly about the adjustment of the 2025 budget.

According to President Tinubu, the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies.

He presented the initial budget to the National Assembly on December 18, 2025.

“It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of Nigeria titled, ‘The Restoration Budget’ securing peace, building prosperity,” Tinubu said.

“The 2025 budget seeks to restore macro-economic stability enhance the business environment, foster inclusive growth, employment and poverty reduction, promote equitable income distribution and human capital development,” Tinubu said.