POLITICS
Tinubu signs N54.99tri 2025 budget into law
The revised budget was prompted by increased revenue from various sources, including N1.4 trillion from the Federal Inland Revenue Service (FIRS).
President Bola Ahmed Tinubu has signed the N54.99 trillion 2025 Appropriation Bill into law.
The President signed the budget on Friday at the State House in Abuja.
The bill 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 by President Tinubu.
According to Tinubu, the revision was prompted by increased revenue from various sources, including N1.4 trillion from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion from other government-owned agencies.
The 2025 budget breakdown reveals a total expenditure of N54.99 trillion. This includes statutory transfers of N3.65 trillion, recurrent (non-debt) expenditure of N13.64 trillion, capital expenditure of ₦23.96 trillion, and debt servicing of N14.32 trillion. The deficit-to-GDP ratio stands at 1.52%.
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