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BREAKING: Tinubu Signs 2025 Budget Into Law, Setting Fiscal Agenda
ABUJA: President Tinubu has signed the 2025 budgetary appropriation bill into law.
The National Assembly had passed a total of ₦54.99 trillion only for spending for the 2025 fiscal year.
The budget, initially ₦49.7 trillion, was increased to ₦54.2 trillion by the legislature after President Bola Tinubu applied for the increase.
The Budget Breakdown shows that N3.645 trillion was earmarked for Statutory Transfers, ₦14.317 trillion for Debt Servicing, while ₦13.64 trillion and N23.963 trillion were set aside for Recurrent Expenditure and Capital Expenditure (Development Fund) respectively.
The document also shows that ₦14.317 trillion is set aside for debt servicing, reflecting Nigeria’s fiscal obligations, while Recurrent expenditure, covering salaries, overheads, and government operations, amounts to ₦13.64 trillion.
The signing was done in the presence of top leaders of the National Assembly and other government functionaries.
More details coming…
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