Tinubu Signs N54.99 Trillion 2025 Budget into Law, Highlights Economic Progress



By Insight by Oppy

President Bola Tinubu has signed the N54.99 trillion budget for the 2025 fiscal year into law, expressing confidence in Nigeria’s economic trajectory. The signing ceremony, held at the Presidential Villa in Abuja, was attended by top government officials, including Senate President Godswill Akpabio, Speaker of the House of Representatives Tajudeen Abbas, National Security Adviser Nuhu Ribadu, Minister of Finance and Coordinating Minister of the Economy Wale Edun, and Minister of Budget and National Planning Atiku Bagudu.

Tinubu reaffirmed his administration’s commitment to economic growth, stability, and national development, stating, "Today, we see a light at the end of the tunnel. We can see signs of progress."

Budget Breakdown and Economic Projections

The 2025 budget, initially proposed at N54.2 trillion, was increased to N54.99 trillion by the National Assembly before its passage on February 13, 2025. The budget allocations are as follows:

Statutory Transfers: N3.645 trillion

Debt Servicing: N14.317 trillion

Recurrent Expenditure: N13.64 trillion

Capital Expenditure (Development Fund): N23.963 trillion

Fiscal Deficit: N13.08 trillion (1.52% of GDP)


The President highlighted key economic indicators, noting that Nigeria's Gross Domestic Product (GDP) growth has reached 3.86%, while national revenue has increased to N21.63 trillion. He also emphasized ongoing forex reforms and improvements in the country’s fiscal discipline.

Economic Reforms and National Outlook

Addressing the broader economic outlook, Tinubu underscored the impact of strategic reforms in stabilizing the Naira, reducing fiscal deficits, and improving foreign exchange markets. He reassured Nigerians that despite initial challenges, his administration remains committed to economic transformation.

"We affirm our commitment to securing the future, building prosperity, and ensuring that every Nigerian shares in the dividends of governance," Tinubu stated.

The President also mentioned that the government has met its wage obligations, including raising the minimum wage, while working towards long-term national development.

With the 2025 budget now in effect, focus will shift to its implementation, particularly in capital projects and economic policies aimed at sustaining growth and improving the standard of living for Nigerians.


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