President Bola Tinubu has signed the 2025 budget of N54.99 trillion into law following legislative approval by the National House of Assembly.
This came after the National Assembly adjusted the president’s original N49.7 trillion proposal, nearly doubling the N27.5 trillion budget of 2024, to reflect the administration’s economic priorities.
During the approval process, lawmakers deliberated on the revised budget and finalized it after incorporating amendments, with the signing ceremony presided over by Tinubu.
President Tinubu, during the signing, said the approved budget includes a N14.32 trillion allocation for debt servicing and targets a robust framework for economic growth and infrastructure development.
Under the 2025 plan, key financial commitments include N23.96 trillion for capital expenditure on infrastructure and development, N13.64 trillion for recurrent costs, and N3.65 trillion for statutory transfers to independent agencies.
According to Tinubu, the budget aims to bolster economic restructuring, enhance infrastructure, and stimulate growth across critical sectors, marking a significant leap from the previous year’s fiscal strategy.
