President Tinubu has officially enacted the 2025 budget appropriation bill.
The National Assembly approved a total budget of N54.99 trillion for the upcoming fiscal year.
Originally set at N49.7 trillion, the budget was increased to N54.2 trillion following a request from President Bola Tinubu.
The budget allocation details indicate that N3.645 trillion is designated for Statutory Transfers, N14.317 trillion for Debt Servicing, while N13.64 trillion and N23.963 trillion are allocated for Recurrent Expenditure and Capital Expenditure (Development Fund), respectively.
Additionally, the document highlights that N14.317 trillion is allocated for debt servicing, reflecting Nigeria’s fiscal responsibilities, while Recurrent Expenditure, which includes salaries, operational costs, and government functions, totals N13.64 trillion.
