President Bola Tinubu on Friday signed the N54.99 trillion 2025 Appropriation Bill into law at the State House, Abuja.
The bill was passed by the National Assembly on Feb. 13 after being increased from the N49.7 trillion submitted by President Tinubu.
The assent was given in a brief ceremony in the President’s office.
The 2025 Appropriation Act represents a 99.96 per cent increase from the 2024 Budget of N27.5 trillion.
The 2025 budget has a total expenditure component of ₦54.99 trillion, statutory transfers of ₦3.65 trillion and recurrent (Non-Debt) expenditure of ₦13.64 trillion.
The capital expenditure component is ₦23.96 trillion, debt servicing of ₦14.32 trillion and deficit-to-GDP Ratio of 1.52 per cent.
Senator Godswill Akpabio, President of the Senate and other leaders of the National Assembly witnessed the signing of the budget. (NAN)
