The Senate has passed the 2025 Appropriation Bill of ₦54.99 trillion on Thursday.
The estimates include allocations for statutory transfers, recurrent expenditures, capital projects, and debt servicing, as well as a fiscal deficit of ₦13.08 trillion.
The major breakdowns include 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%.
While making the initial presentation last year, Tinubu sent a ₦49.7 trillion estimates, but increased it to ₦54.2 trillion on February 5 after reporting additional revenue generated by key agencies.
In letters to the Senate and House of Representatives, read by Senate President Godswill Akpabio, Tinubu gave the sources of the additional revenue to include ₦1.4 trillion from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion from other government agencies.
The House of Representatives had earlier passed the ₦54.99 trillion 2025 Appropriation Bill.
