President Bola Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law, marking a historic milestone as Nigeria’s largest-ever national budget.
The new fiscal plan represents a staggering 99.96% increase from the N27.5 trillion budget for 2024, underscoring the administration’s commitment to expanded capital investment and economic stabilization.
The National Assembly approved the budget on February 13, 2025, after making adjustments to Tinubu’s initial proposal of N49.7 trillion. The final breakdown of the budget includes:
– N23.96 trillion for capital expenditure,
– N14.32 trillion for debt servicing,
– N13.64 trillion for recurrent (non-debt) spending, and
– N3.65 trillion for statutory transfers.
The budget deficit-to-GDP ratio is pegged at 1.52%, reflecting the government’s efforts to balance fiscal responsibility with ambitious development goals.
The sharp increase in budgetary allocation highlights the administration’s focus on infrastructure development, social welfare, and economic growth. However, concerns persist over Nigeria’s growing debt burden, as debt servicing alone accounts for a significant portion of the total expenditure.
