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Economy to Expand as Tinubu signs N54.99trn 2025 bill into law

The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.

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President Bola Tinubu on Friday signed the N54.99 trillion appropriation into law.

Signing a country’s budget has significant impacts on the economy, governance, and citizens.

Here are some of the key effects:

Economic Impacts

1. Allocation of Resources: The budget allocates resources to various sectors, such as healthcare, education, infrastructure, and defense.

2. Fiscal Policy: The budget implements fiscal policy, influencing the overall level of economic activity, employment, and inflation.

3. Investment and Growth: A well-structured budget can attract investments, stimulate economic growth, and improve living standards.

4. Debt Management: The budget outlines debt management strategies, affecting the country’s credit rating and borrowing costs.

The signing ceremony took place on Friday at the Presidential Villa, Abuja, in the presence of the leadership of the National Assembly and other senior government officials.

The budget was passed by both chambers of the National Assembly on Thursday, February 13, after lawmakers increased it from the initial ₦49.7 trillion submitted by the President.

The 2025 Appropriation Act represents a 99.96% increase from the 2024 budget of ₦27.5 trillion.

The 2025 Budget breakdowns:

Total Expenditure: ₦54.99 trillion Statutory Transfers: ₦3.65 trillion Recurrent (Non-Debt) Expenditure: ₦13.64 trillion Capital Expenditure: ₦23.96 trillion. Debt Servicing: ₦14.32 trillion.Deficit-to-GDP Ratio: 1.52%.

This budget marks a significant fiscal expansion, with increased allocations for capital projects and debt servicing.

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Crime

BREAKING: Court Convicts Nnamdi Kanu of FG’s Terrorism Charge

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The Federal High Court sitting in Abuja has found the detained leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu, guilty on count-1 of the terrorism charge the Federal Government preferred against him.

The court said it was satisfied that Kanu made series of broadcasts to incite violence and killings, in furtherance of his separatist agitation for Biafra.

Trial Justice James Omotosho based his decision on what he described as “uncontroverted evidence” that was adduced before the court by the prosecution.

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Judge Expels Kanu from courtroom

‎As the court prepared to deliver judgment, Kanu objected, insisting he had not filed his final written address.

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‎Justice James Omotosho of the‎ Federal High Court this morning, ordered Nnamdi Kanu out of the courtroom for unruly behaviour midway through Thursday’s proceedings.

The trial judge is set to deliver judgment in a case spanning ten years.

The judge had earlier dismissed three fresh motions filed by Kanu, ruling them unmeritorious.

‎As the court prepared to deliver judgment, Kanu objected, insisting he had not filed his final written address.

He raised his voice, accused the judge of bias, and declared that the court “did not know the law.”

‎Following the outburst, security operatives escorted Kanu from the courtroom. Justice Omotosho is now set to proceed with reading the final judgment in the long‑running terrorism case.


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BREAKING: Early Morning Accident Causes Major Traffic on Otedola Bridge

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A serious accident on Thursday morning caused heavy traffic at the Otedola Bridge, just before the Lagos State Secretariat, leaving hundreds of commuters stranded.

The gridlock has severely slowed movement, disrupting the morning rush as motorists struggle to navigate the heavily congested route.

As of now, no emergency team has arrived at the scene to manage the situation or restore traffic flow.

Details later…

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