President Bola Tinubu has signed the 2025 budget into law after approval by the National Assembly. The total budget for the year is N54.99 trillion, an increase from the original N49.7 trillion.
Initially, the proposed budget was N49.7 trillion, but President Tinubu requested an increase. Lawmakers reviewed the request and raised it to N54.2 trillion before giving final approval.
The 2025 budget is divided into different sections to cover government operations, debt payments, and development projects:
- Statutory Transfers: N3.645 trillion for special government agencies and programs.
- Debt Servicing: N14.317 trillion to pay off Nigeria’s loans.
- Recurrent Expenditure: N13.64 trillion for government salaries, overhead costs, and daily operations.
- Capital Expenditure: N23.963 trillion for infrastructure, development projects, and other long-term investments.
With this budget, the government aims to meet financial obligations, improve infrastructure, and keep public services running smoothly. Now that the budget is signed into law, funds will be allocated to various sectors to drive Nigeria’s growth in 2025.
