In a significant move for Nigeria’s economic planning, President Bola Tinubu has officially signed the 2025 Appropriation Bill into law. The newly approved budget, totalling ₦54.99 trillion (approximately $36.6 billion), marks a substantial increase from the ₦27.5 trillion budget for 2024.
The budget was passed by both chambers of the National Assembly on Thursday, February 13, after President Tinubu requested an increase from the initially proposed ₦49.7 trillion. The final approved amount of ₦54.99 trillion also exceeds the President’s revised proposal of ₦54.2 trillion.
The signing ceremony took place today at the President’s office in Aso Rock Villa, with key government officials and principal officers from the National Assembly in attendance. This budget is expected to play a crucial role in addressing Nigeria’s economic priorities and development goals for the 2025 fiscal year.
The significant increase in the budget reflects the government’s commitment to tackling pressing national issues and boosting economic growth. Details on how the funds will be allocated across various sectors are expected to be released soon.
