President Bola Tinubu has officially signed the historic ₦54.99 trillion 2025 budget into law, marking a significant financial commitment for Nigeria’s economic growth. The signing ceremony took place on Friday, February 28, at the Presidential Villa in Abuja, with top government officials and National Assembly members in attendance.
This development follows the National Assembly’s approval of the budget on February 13, after lawmakers increased the initial ₦49.7 trillion proposal submitted by the President. The final figure represents a staggering 99.96% rise compared to the ₦27.5 trillion 2024 budget, making it the largest in Nigeria’s history.
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With a total expenditure of ₦54.99 trillion, the 2025 Appropriation Act allocates ₦3.65 trillion for statutory transfers, ₦13.64 trillion for recurrent (non-debt) spending, ₦23.96 trillion for capital projects, and a substantial ₦14.32 trillion for debt servicing.
The signing of this budget signals Tinubu’s administration’s commitment to driving economic development, improving infrastructure, and addressing critical national concerns. Analysts are closely watching how the government will implement the budget to boost key sectors, create jobs, and manage the country’s rising debt profile.