The Senate has approved the 2025 Appropriation Bill, passing a total budget of ₦54.99 trillion on Thursday.
The budget covers statutory transfers, recurrent expenditures, capital projects, and debt servicing, with a fiscal deficit of ₦13.08 trillion.
Budget Breakdown
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
Deficit-to-GDP Ratio: 1.52%
Revised Budget Figures
President Bola Tinubu initially proposed a ₦49.7 trillion budget but revised it to ₦54.2 trillion on February 5, citing additional revenue from key government agencies.
In a letter to the National Assembly, Tinubu outlined the revenue adjustments:
₦1.4 trillion from the Federal Inland Revenue Service
₦1.2 trillion from the Nigeria Customs Service
₦1.8 trillion from other government agencies
The House of Representatives had earlier passed the ₦54.99 trillion budget before the Senate’s approval.
