President Bola Tinubu declared on Friday, that his administration’s economic discipline and strategic reforms have delivered results once thought by many as impossible.
He made the claim as he signed the N54.99 trillion 2025 Budget of Transformation into law at the State House
The National Assembly passed the bill on February 13, 2025, raising it from the initial N49.7 trillion initially proposed by the president.
The signing took place during a brief ceremony in the President’s office which was attended by key government officials.
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The 2025 budget marks a significant rise of 99.96% compared to the previous year’s N27.5 trillion budget.
According to the budget breakdown, total expenditure stands at N54.99 trillion, with statutory transfers accounting for N3.65 trillion. Recurrent (non-debt) expenses amount to N13.64 trillion, capital expenditure is N23.96 trillion, and debt servicing is allocated N14.32 trillion. The deficit-to-GDP ratio is set at 1.52%.
The signing ceremony was witnessed by the leadership of the National Assembly, led by Senate President Godswill Akpabio.
