Reports coming in indicate that President Tinubu has signed the 2025 budgetary appropriation bill into law.
Recall that the National Assembly had passed a total of N54.99 trillion for the 2025 fiscal year.
The budget, initially N49.7 trillion, was jerked up to N54.2 trillion by the legislature after President Bola Tinubu applied for the increase.
According to the budget breakdown, N3.645 trillion was earmarked for Statutory Transfers, N14.317 trillion for Debt Servicing, while N13.64 trillion and N23.963 trillion were set aside for Recurrent Expenditure and Capital Expenditure (Development Fund) respectively.
Also, the the document shows that N14.317 trillion is set aside for debt servicing, reflecting Nigeria’s fiscal duties while Recurrent Expenditure, covering salaries, overheads, and government operations, amounts to N13.64 trillion.
Details Shortly…
