On Friday, President Bola Tinubu signed the ₦54.99 trillion budget into law, marking the beginning of Nigeria’s financial roadmap for 2025.
The National Assembly had carefully reviewed and approved the budget before sending it to the president for final assent.
The budget allocates ₦3.65 trillion for statutory transfers, ensuring key government agencies and institutions receivenecessary funding.
Additionally, the government plans to spend ₦13.64 trillion on recurrent expenses, covering salaries, maintenance, and administrative costs.
Meanwhile, it has earmarked ₦23.96 trillion for capital expenditure, aiming to drive infrastructure projects and economic development.
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Furthermore, the government has set aside ₦14.32 trillion for debt servicing, demonstrating its commitment to meeting financial obligations.
Budget Implication
At the same time, the budget reveals a fiscal deficit of ₦13.08 trillion, which highlights the gap between revenue and expenditure.
Despite this, Nigeria maintains a Deficit-to-GDP Ratio of 1.52%, suggesting an effort to keep borrowing within manageable limits.
Now that the budget is in effect, attention shifts to its implementation, as the government works to balance its spending priorities with economic stability and national growth.
More Details Later….
