President Bola Tinubu has just signed the N54.99 trillion 2025 Appropriation Bill into law at the State House, Abuja. 

The bill, which was passed in separate sessions by the two Chambers of the National Assembly on Thursday, February 13, after increasing it from the initial figures of N49.7 trillion submitted by President Tinubu, was signed in a brief ceremony in the President’s office.

The 2025 Appropriation Act represents a 99.96% increase from the 2024 Budget of N27.5 trillion.

The key breakdown of the 2025 budget is as follows: Total Expenditure: ₦54.99 trillion; Statutory Transfers: ₦3.65 trillion; Recurrent (Non-Debt) Expenditure: ₦13.64 trillion; Capital Expenditure: ₦23.96 trillion; Debt Servicing: ₦14.32 trillion; Deficit-to-GDP Ratio: 1.52%.

The budget aims to address key areas, including security, infrastructure, education, and health, with an allocation of $200m to mitigate the impact of recent U.S. health aid reductions.

The 2025 budget is based on ambitious economic assumptions, including a crude oil production target of 2.06 million barrels per day at a benchmark price of $75 per barrel.

Additionally, the Federal Government projects an exchange rate of ₦1,500 to the U.S. dollar and aims to reduce inflation from 34.8 per cent to 15 per cent within the year.

The 2025 Appropriation Act represents a 99.96 per cent increase from the 2024 Budget of N27.5tn.