President Bola Ahmed Tinubu of Nigeria has signed the ₦54.99 trillion 2025 Appropriation Bill into law, marking a significant increase from the ₦27.5 trillion budget of 2024.
The signing took place at a brief ceremony in the State House, Abuja, following the National Assembly’s approval of the revised budget on February 13.
The 2025 budget represents a 99.96% increase from the previous year, raising concerns about its financing and potential economic impact. The budget breakdown includes: Statutory Transfers: ₦3.65 trillion; Recurrent (Non-Debt) Expenditure: ₦13.64 trillion; Capital Expenditure: ₦23.96 trillion; Debt Servicing: ₦14.32 trillion; Deficit-to-GDP Ratio: 1.52%
With debt servicing alone accounting for ₦14.32 trillion, analysts have raised questions about how the government plans to finance the budget—whether through increased borrowing, higher taxation, or oil revenue projections. The coming months will reveal the administration’s strategy to sustain economic growth while managing the country’s rising debt burden.
