- President Tinubu Signs 2025 Budget into Law
- The National Assembly had approved a total budget of ₦54.99 trillion for the 2025 fiscal year.
- The allocation for debt servicing underscores Nigeria’s fiscal obligations, while the recurrent expenditure accounts for essential government operations.
President Bola Tinubu has officially signed the 2025 Appropriation Bill into law.
The National Assembly had approved a total budget of ₦54.99 trillion for the 2025 fiscal year. Initially proposed at ₦49.7 trillion, the budget saw an increase to ₦54.2 trillion following a request from President Tinubu for additional funding.
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According to the budget breakdown:
- ₦3.645 trillion is allocated for Statutory Transfers
- ₦14.317 trillion is earmarked for Debt Servicing
- ₦13.64 trillion is set aside for Recurrent Expenditure, covering salaries, overheads, and government operations
- ₦23.963 trillion is designated for Capital Expenditure (Development Fund)
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The allocation for debt servicing underscores Nigeria’s fiscal obligations, while the recurrent expenditure accounts for essential government operations.
More details to follow…
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