President Tinubu Approves N54.99trn Budget for 2025
2025 Budget of N54.99trn Signed by President Tinubu
President Bola Tinubu has signed Nigeria’s 2025 Appropriation Bill into law, setting the total national budget at ₦54.99 trillion. This historic figure represents a near 100% increase from last year’s ₦27.5 trillion and exceeds the president’s initial proposal of around ₦54.2 trillion. The budget was passed by both chambers of the National Assembly on February 13, 2025, and Tinubu signed it on February 28, 2025.
Key highlights include:
Economic Reforms & Growth: The budget reflects the administration’s focus on economic recovery and transformation. Tinubu emphasized that the measures will empower Nigerians, rebuild prosperity, and secure the nation’s future. The reforms have contributed to a rebound in GDP growth to 3.86% and a significant increase in national revenue.
Fiscal Discipline: The government noted improvements in fiscal management, with the deficit-to-GDP ratio falling from 6.2% in 2023 to about 4.217% in 2025, alongside efforts in foreign exchange reforms and increased revenue collection.
Major Allocations:
Statutory Transfers: Approximately ₦3.65 trillion
Recurrent (Non-Debt) Expenditure: Around ₦13.64 trillion
Capital Expenditure: Nearly ₦23.96 trillion
Debt Service: About ₦14.32 trillion
Key Policy Shift: For the first time in many years, no funds were allocated to the fuel subsidy—a move hailed by experts as a crucial step toward fiscal consolidation and redirecting resources to more productive sectors.