President Bola Tinubu has signed the 2025 Appropriation Bill into law, officially approving a total budget of N54.99 trillion for the fiscal year.
The National Assembly had initially raised the budget from N49.7 trillion to N54.2 trillion following a request from the President before finally approving the N54.99 trillion total.
Budget Breakdown
- Statutory Transfers: N3.645 trillion
- Debt Servicing: N14.317 trillion
- Recurrent Expenditure: N13.64 trillion
- Capital Expenditure (Development Fund): N23.963 trillion
The allocation for debt servicing stands at N14.317 trillion, reflecting Nigeria’s financial obligations, while N13.64 trillion is earmarked for Recurrent Expenditure, covering salaries, overheads, and daily government operations.
More details to follow…
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