The new budget represents a 99.96% increase from the ₦27.5 trillion allocated in 2024. Initially proposed at ₦49.7 trillion, the bill was later revised and increased before being signed by Tinubu at the State House in Abuja on Friday.
The National Assembly approved the budget on February 13th after multiple revisions.
A breakdown of the budget includes a total expenditure of ₦54.99 trillion, with statutory transfers amounting to ₦3.65 trillion. Recurrent (non-debt) expenditure is set at ₦13.64 trillion, while capital expenditure accounts for ₦23.96 trillion. Additionally, ₦14.32 trillion is allocated for debt servicing, and the deficit-to-GDP ratio stands at 1.52%.