The recent approval of Nigeria’s 2025 national budget by the National Assembly has set the total budget at N54.99 trillion, marking a significant increase from the previous year’s budget of N27.5 trillion. This jump is the largest in recent years.
Initially proposed at N49.7 trillion by President Bola Tinubu, the budget was later increased to N54.2 trillion before the final approval of N54.99 trillion by the National Assembly. The breakdown of the budget includes 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%.
The upward trend in Nigeria’s annual budgets, from N8.82 trillion in 2019 to the current N54.99 trillion in 2025, reflects the government’s focus on addressing economic challenges and enhancing infrastructure, social programs, and debt servicing.