On Thursday, February 13, 2025, Nigeria’s National Assembly passed the 2025 Appropriation Bill, setting the budget at ₦54.99 trillion.
This figure exceeds the initial proposal of ₦49.7 trillion, which was later revised to ₦54.2 trillion by President Bola Tinubu, citing additional revenues from key government agencies.
The budget allocates ₦3.645 trillion for statutory transfers, ₦14.317 trillion for debt servicing, ₦13.64 trillion for recurrent expenditure, and ₦23.963 trillion for capital projects.
Notably, it includes a provision of $200 million to address funding gaps resulting from the United States’ suspension of aid to Nigeria’s health sector.
Despite the budget’s expansion, it maintains a deficit of approximately 13 trillion naira, representing 3.89% of the nation’s Gross Domestic Product (GDP).
This underscores ongoing fiscal challenges as the government balances ambitious spending with revenue constraints.
With the National Assembly’s passage, the budget now awaits President Tinubu’s assent to become law.
Once signed, it will set the financial framework for Nigeria’s economic and developmental plans for the year 2025.
