Tinubu Signs Historic ₦54.99trn Budget, Doubling 2024 Spending

President Bola Tinubu has signed the 2025 Appropriation Bill of ₦54.99 trillion into law, marking a significant expansion in government spending.

The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of National Assembly leaders and senior government officials. The budget was passed by both chambers on Thursday, February 13, after lawmakers increased it from the initial ₦49.7 trillion submitted by the President.

With a near 100% increase from the 2024 budget of ₦27.5 trillion, the 2025 fiscal plan signals a bold financial strategy, prioritizing capital projects and debt servicing.

Budget Breakdown:

• Total Expenditure: ₦54.99 trillion
• Statutory Transfers: ₦3.65 trillion
• Recurrent (Non-Debt) Expenditure: ₦13.64 trillion
• Capital Expenditure: ₦23.96 trillion
• Debt Servicing: ₦14.32 trillion
• Deficit-to-GDP Ratio: 1.52%

This budget underscores the administration’s commitment to economic expansion, with increased allocations for infrastructure and fiscal sustainability.