President Bola Tinubu on Friday signed historic N54.99 trillion 2025 Appropriation Bill, marking 99.96 percent increase from 2024 budget of N27.5 trillion.
The bill, which was passed by the National Assembly on February 13, after increasing it from the initial N49.7 trillion as requested by President Tinubu, was signed at a brief ceremony at the State House, Abuja.
The 2025 budget has a total expenditure component of N54.99 trillion, statutory transfers of N3.65 trillion and recurrent (Non-Debt) expenditure of N13.64 trillion.
The capital expenditure component is ₦23.96 trillion, debt servicing of ₦14.32 trillion and deficit-to-GDP Ratio of 1.52 per cent.
Persecondnews reports that Senate President Godswill Akpabio and other officers of the National Assembly witnessed the signing ceremony.
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