President Tinubu Signs 2025 Budget Into Law
The 2025 budgetary appropriation bill has been signed into law by Nigerian President, Bola Ahmed- Tinubu.
Tinubu signed the bill, a total of N54.99 trillion in his office at the State House in Abuja on Friday.
The budget, initially N49.7 trillion, was increased to N54.2 trillion by the National Assembly after President Bola Tinubu applied for an increase.
The budget breakdown shows that N3.645 trillion was earmarked for Statutory Transfers, N14.317 trillion for Debt Servicing, while N13.64 trillion and N23.963 trillion were set aside for Recurrent Expenditure and Capital Expenditure (Development Fund) respectively.
The the document also shows that N14.317 trillion is set aside for you debt servicing, reflecting Nigeria’s fiscal obligations while Recurrent Expenditure, covering salaries, overheads, and government operations, amounts to N13.64 trillion.
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