President Bola Tinubu has officially approved the ₦54.99 trillion budget for 2025, a figure nearly double the previous year’s allocation.
The signing took place on Friday at the State House in Abuja, following a review by the National Assembly, which increased the initial proposal from ₦49.7 trillion.
The budget outlines ₦23.96 trillion for capital projects, ₦13.64 trillion for recurring expenses, and ₦14.32 trillion for debt servicing. Revenue projections stand at ₦34.8 trillion, while the deficit-to-GDP ratio is set at 1.52%.
President Tinubu described the financial plan as a strategic move to stabilise the economy, create jobs, and promote inclusive growth. The budget also anticipates a drop in inflation from 34.6% to 15% and an improvement in the exchange rate from ₦1,700 to ₦1,500 per dollar.
With this budget, the government intends to enhance public services, strengthen economic resilience, and address national financial challenges.