President Bola Tinubu on Friday signed the 2025 Appropriation Bill of N54.99 trillion, assuring Nigerians that his administration’s strategic reforms are yielding positive results.
Speaking at the signing ceremony at the Presidential Villa, Abuja, Tinubu declared, “Today, we see a light at the end of the tunnel. We can see signs of progress.”
The National Assembly had passed the budget on February 13, 2025, increasing Tinubu’s original proposal of N54.2 trillion to N54.99 trillion.
Key Budget Allocations
- Statutory Transfers – N3.645 trillion
- Debt Servicing – N14.317 trillion
- Recurrent Expenditure – N13.64 trillion
- Capital Expenditure (Development Fund) – N23.963 trillion
- Fiscal Deficit – N13.08 trillion
- Deficit-to-GDP Ratio – 1.52%
President Tinubu highlighted Nigeria’s GDP growth at 3.86%, an increase in revenue to N21.63 trillion, and a significant reduction in the budget deficit from 6.2% in 2023 to 4.217%. He also emphasized progress in forex reforms, a rebranded naira, and an increase in the minimum wage.
“We affirm our commitment to securing the future, building prosperity, and ensuring that every Nigerian shares in the dividends of governance,” Tinubu said.
The signing was attended by Senate President Godswill Akpabio, House Speaker Tajudeen Abbas, National Security Adviser Nuhu Ribadu, FCT Minister Nyesom Wike, Finance Minister Wale Edun, Budget and National Planning Minister Atiku Bagudu, and other top government officials.
