The Nigerian Senate has passed the 2025 federal budget, totaling N54.99 trillion, following the presentation, consideration, and adoption of recommendations by the Senate Committees on Appropriations.
The budget, which was passed on Thursday, includes significant allocations for capital expenditure, recurrent expenditure, and debt service. Of the total, N23.96 trillion is earmarked for capital expenditure, while N13.06 trillion is allocated to recurrent and non-debt expenditure. Debt service will consume N14.32 trillion, with N3.65 trillion set aside for statutory transfers.
The budget also projects a deficit of 1.52 percent of Nigeria’s Gross Domestic Product (GDP), which will be covered through borrowing.
Key highlights of the budget include:
- Capital Expenditure: N23.96 trillion
- Debt Service: N14.32 trillion
- Recurrent and Non-Debt Expenditure: N13.06 trillion
- Statutory Transfers: N3.65 trillion
The passage of the budget follows a thorough review and consideration by the Senate Committees on Appropriations, with the Senate urging effective implementation of the allocations to support national development.
