President Bola Tinubu has signed the ₦54.99 trillion 2025 Appropriation Bill into law, nearly doubling the 2024 budget.
The bill, initially proposed at ₦49.7 trillion, was revised upward by the National Assembly before approval on February 13.
A breakdown shows ₦23.96 trillion for capital expenditure, ₦14.32 trillion for debt servicing, and ₦13.64 trillion for recurrent expenses. The budget deficit-to-GDP ratio is set at 1.52%.
Tinubu attributed the budget increase to additional revenues from FIRS, Customs, and government agencies. He expects inflation to drop to 15% in 2025 and the exchange rate to improve to ₦1,500 per dollar.
