President Bola Tinubu has signed into law the 54.99 trillion naira 2025 Appropriation Bill.

The signing ceremony took place on Friday in the President’s office at the State House, Abuja, in the presence of principal officers of the National Assembly and other top government officials.

The bill was passed by the two Chambers of the National Assembly on Thursday, February 13, after President Tinubu requested an increase from the initially proposed 49.7 trillion naira.

The approved budget of 54.99 trillion naira exceeds the President’s initial proposal of 54.2 trillion naira.

The budget is based on key economic assumptions, including a crude oil production target of 2.06 million barrels per day at a benchmark price of $75 per barrel.

The increase in the budget reflects additional anticipated revenues from agencies such as the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS).

The 2025 budget aims to address critical areas, including security, infrastructure, education, and health.

Notably, $200 million has been allocated to mitigate the impact of recent reductions in U.S. health aid.

The Punch/Maxwell Oyekunle

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