President Bola Tinubu has officially signed the 2025 Appropriation Bill, totaling N54.99 trillion, into law.
The signing took place on Friday at the Presidential Villa in Abuja, with key government officials and leaders of the National Assembly in attendance.
Initially proposed at N49.7 trillion, the budget saw an upward revision by lawmakers before securing approval from both chambers of the National Assembly on February 13.
The 2025 budget nearly doubles the N27.5 trillion allocated in 2024, reflecting a 99.96 per cent increase.
The significant increase aims to drive economic growth, enhance infrastructure development, and manage fiscal obligations, including debt servicing.
The budget breakdown shows that N3.65 trillion was allocated for Statutory Transfers; N13.64 trillion for Recurrent, Non-Debt, Expenditure; N23.96 trillion for Capital Expenditure and N14.32 trillion for Debt Servicing.
