President Bola Tinubu has signed into law the unprecedented ₦54.99 trillion 2025 Appropriation Bill, marking a significant milestone in Nigeria’s economic planning. The signing ceremony took place at the State House in Abuja, with key government officials in attendance.
Budget Breakdown
The 2025 budget allocations are as follows:
- Recurrent (Non-Debt) Expenditure: ₦13.5 trillion
- Capital Expenditure: ₦23.4 trillion
- Statutory Transfers: ₦3.6 trillion
- Debt Service: ₦14.3 trillion
- Fiscal Deficit: ₦13.8 trillion
This budget represents a 99.96% increase from the previous year’s appropriation bill of ₦27.5 trillion.
Key Sector Allocations
The budget prioritizes critical sectors to stimulate economic growth and development:
- National Security: ₦6.11 trillion, the highest defense allocation in Nigeria’s history, aimed at securing the nation from various threats.
- Infrastructure: ₦5.99 trillion dedicated to major rail, road, and energy projects to enhance connectivity and drive economic expansion.
- Human Capital Development: ₦5.70 trillion allocated for healthcare, education, and skills development to empower citizens.
- Agriculture and Food Security: ₦3.73 trillion to boost local food production and ensure food security.
- Social Welfare: ₦723.68 billion to support youth, women, and vulnerable citizens.
President’s Remarks
During the signing, President Tinubu emphasized the administration’s commitment to economic recovery, stability, and growth. He acknowledged the challenges faced over the past year but highlighted the government’s strategic reforms and economic discipline that have begun to yield positive results. The President noted that the economy is showing signs of progress, with a national GDP growth of 3.86% in the last quarter of 2024, the fastest in three years.
Legislative Collaboration
The President expressed gratitude to the leadership of the National Assembly for their cooperation and support in the budget review process. He commended their collaborative spirit, noting that both the executive and legislative arms are working together to move Nigeria forward.
Economic Outlook
The 2025 budget, dubbed the “Budget of Restoration,” aims to restore macro-economic stability, enhance the business environment, foster inclusive growth, employment, and poverty reduction, and promote equitable income distribution and human capital development.
With disciplined focus and diligent implementation, the administration aims to ensure that the benefits of governance reach every Nigerian, thereby securing the nation’s future and rebuilding prosperity.
