President Bola Tinubu has officially signed the ₦54.99 trillion 2025 Appropriation Bill into law, following final adjustments by the National Assembly.
The signing ceremony took place on Friday, February 28, 2025, at the State House in Abuja, during a brief ceremony attended by senior government officials.
The 2025 budget was originally proposed at ₦49.7 trillion, but lawmakers increased the figure to ₦54.99 trillion before giving their final approval. The record-breaking budget is expected to fund key infrastructure projects, enhance social services, and drive economic growth across various sectors in line with Tinubu’s Renewed Hope Agenda.
It should be noted that Tinubu presented Nigeria’s 2025 budget proposal to a joint session of the National Assembly on Wednesday, December 18, with key highlights, including adjusting the exchange rate benchmark to N1,500 per dollar.
The budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” aimed at consolidating policies to restructure Nigeria’s economy, boost human capital, and stimulate key sectors such as manufacturing and oil and gas production.
He said the 2025 budget sought to consolidate the key policies his administration had instituted to restructure Nigeria’s economy, boost human capital development, increase the volume of trade and investments, bolster oil and gas production, get the manufacturing sector humming, and ultimately increase the country’s competitiveness.