President (Asíwájú) Bọ́lá Ahmed Tinúbú, GCFR has officially signed the ₦54.99 trillion 2025 budget into law during a ceremony at the State House in Abuja.
This budget marks a significant increase from the ₦27.5 trillion approved for 2024, reflecting a 99.96% rise.
Key Highlights of the 2025 Budget:
- Total Expenditure: ₦54.99 trillion.
- Statutory Transfers: ₦3.65 trillion.
- Recurrent (Non-Debt) Expenditure: ₦13.64 trillion.
- Capital Expenditure: ₦23.96 trillion.
- Debt Servicing: ₦14.32 trillion.
- Fiscal Deficit: Projected at 1.52% of GDP.
The National Assembly had initially passed the budget on February 13, 2025, after increasing it from the ₦49.7 trillion originally proposed by the President. Key government officials, including Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas attended the signing ceremony.
This budget is expected to address critical areas such as infrastructure development, education, healthcare, and debt servicing, while also aiming to stimulate economic growth and job creation.
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