Nigeria's National Assembly has approved a ₦54.99 trillion ($36.6 billion) budget for the 2025 fiscal year, surpassing President Bola Tinubu's initial proposal of ₦54.2 trillion.

The increase reflects the legislature's authority to adjust government spending plans.

Key Allocations in the 2025 Budget:

• Defence and Security: ₦4.91 trillion
• Infrastructure: ₦4.06 trillion
• Health: ₦2.48 trillion
• Education: ₦3.52 trillion

   

The budget anticipates a deficit of 3.89% of GDP, approximately ₦13 trillion.

Projections include reducing inflation from 34.6% to 15% and strengthening the naira from 1,700 to 1,500 per U.S. dollar.

Notably, $200 million is allocated to address gaps from the U.S. suspension of health sector aid.

The budget also reflects increased revenues from agencies like the Federal Inland Revenue Service and Nigeria Customs Service.