Nigerian lawmakers have approved a 2025 budget of 54.99 trillion naira ($36.6 billion), surpassing the initial proposal submitted by President Bola Tinubu, according to the parliamentary speaker.
Tinubu had originally proposed 54.2 trillion naira, factoring in additional revenue expected from tax collections, customs duties, and other agencies. However, lawmakers increased the figure before granting final approval. Under Nigerian law, parliament has the power to amend the government’s spending plans.
The budget now awaits Tinubu’s signature to become law.
A notable provision in the budget includes $200 million allocated to fill funding gaps left by the United States’ suspension of health sector aid to Nigeria.
In his second year in office, Tinubu has pledged to revive economic growth in Africa’s most populous country. However, his early reforms—including the removal of fuel subsidies and two currency devaluations—have triggered a cost-of-living crisis. Inflation, which hit a three-decade high of 34.8% in January, is projected to drop to 15% this year, partly due to lower fuel imports, according to Tinubu.
Key spending priorities for 2025 include security, infrastructure development, and measures to ease economic hardship. The budget deficit is estimated at 1.52% of GDP, amounting to approximately 13 trillion naira.
