The Nigerian Senate on Thursday passed the sum of N54,990,165,355,396.00 as aggregate expenditure of the federal government in the 2025 fiscal year
The Bill was passed after the upper chamber reviewed key highlights of the bill, which outlines a total aggregate expenditure of 54.99 trillion naira.
Akelicious reports that the budget breakdown includes significant allocations for recurrent spending, capital projects, and debt servicing, as well as a projected fiscal deficit.
Key Budget Allocations include Total Expenditure: N54.99 trillion, Statutory Transfers: N3.65 trillion, Recurrent (non- debt) Expenditure: N13.64 trillion, Capital Expenditure: N23.96 trillion, Debt Servicing: N14.32 trillion, Fiscal Deficit: N13.08 trillion and Deficit-to-GDP Ratio: 1.52%.
President Bola Tinubu had originally presented a ₦49.7 trillion budget to the National Assembly on December 18, 2024
However, on February 5, 2025, he revised the budget upwards to ₦54.2 trillion, citing additional revenue to be generated by key government agencies.
