President Bola Tinubu is yet to sign the N54.99 trillion 2025 budget passed by the National Assembly because it has not been officially transmitted to him for approval, according to Atiku Bagudu, the Minister of Budget and Economic Planning.
Sources within the Presidency told BusinessDay that although the Senate passed the budget about eight days ago, it has not yet been forwarded to the President for his assent.
It was also gathered that the delay in submitting and approving the budget has effectively disrupted Nigeria’s January-to-December budget cycle, a system introduced by former President Muhammadu Buhari in 2019.
Speaking at the Presidential Villa in Abuja on Thursday, Bagudu confirmed the situation:
“The President is yet to receive the budget. Once the National Assembly completes its work and transmits the budget, the President will sign it.”
He explained that both the Senate and the House of Representatives must first align their versions of the budget before sending it to the President.
Key Details of the 2025 Budget:
Statutory Transfers: N3.65 trillion
Recurrent Expenditure: N13.64 trillion
Capital Expenditure: N23.96 trillion
Debt Servicing: N14.32 trillion
Fiscal Deficit: N13.08 trillion
Deficit-to-GDP Ratio: 1.52%
Bagudu was at the Presidential Villa for the 148th meeting of the National Economic Council (NEC), where the Nutrition 774 Initiative was launched.
This new programme aims to improve nutrition policies across all levels of government, tackle harmful cultural practices, and address challenges in food and nutrition across Nigeria.
