President Bola Ahmed Tinubu has officially signed the 2025 Appropriation Bill into law, approving a record-breaking ₦54.99 trillion budget for the fiscal year.
Initially proposed at ₦49.7 trillion, the budget saw an increase to ₦54.2 trillion following a request by the President, before being passed by the National Assembly at its final figure.
A breakdown of the budget reveals key allocations:
₦3.645 trillion for Statutory Transfers
₦14.317 trillion for Debt Servicing
₦13.64 trillion for Recurrent Expenditure (salaries, overheads, and government operations)
₦23.963 trillion for Capital Expenditure (Development Fund)
The ₦14.317 trillion earmarked for debt servicing underscores Nigeria’s fiscal commitments, while the significant investment in capital expenditure highlights the government’s focus on infrastructure and development.
More details to follow…
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