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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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Customs and NAPTIP Partner To Track Humans Trafficking

The visit was part of the tripartite engagement and outcomes of the Memorandum of Understanding (MOU) between NAPTIP and MMS WoFHoF, which was anchored on collective efforts and synergy in the fight against human trafficking in the Country.

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Picture: Comptroller – General of Customs, Bashir Adewale Adeniyi (middle ) Director – General of NAPTIP, Binta Adamu Bello,, and the Board Member, MMS WoFHoF Initiative, Hajia Lami Tumaka.

The Comptroller – General of Customs, Bashir Adewale Adeniyi, has promised a robust partnership and collaboration with the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) in tackling the incidence of human trafficking, especially the emerging stowaway and other illegal movement of victims and other unaccompanied minors at the exit and entry points of the nation.


He stated this while playing host to the Director – General of NAPTIP, Binta Adamu Bello,, and the Board Member, MMS WoFHoF Initiative, Hajia Lami Tumaka, as they paid the Custom Boss a courtesy visit at the Service Headquarters, Abuja.

The visit was part of the tripartite engagement and outcomes of the Memorandum of Understanding (MOU) between NAPTIP and MMS WoFHoF, which was anchored on collective efforts and synergy in the fight against human trafficking in the Country.

Speaking during the visit, the Director General said,” Human Trafficking is an organized transnational crime that thrives on weak inter-Agency coordination.

The Nigeria Customs Service (NCS), with its statutory responsibility for border management and trade facilitation, remains one of the strategic partners in curbing cross-border trafficking of persons, smuggling of migrants, and other related crimes”.

She sought the support of the Service in the areas of intelligence sharing, joint capacity building, and sensitization for Officers of both Agencies, Joint Operations, and Inter-Agency task Forces, as well as public awareness and community engagement at border communities.

Also speaking, the Board Member, MMS WoFHoF, Hajia Lami Tumaka, informed the CGC of the planned joint national Conference and Dialogue on stowaways and Human trafficking, designed to enhance understanding of stakeholders and scale up preventive mechanisms of Trafficking in Persons.

In his response, the Controller- General of Customs described partnership as key in the fight against any societal menace, assured of the full support and support of the Customs in all interventions aimed at reducing the incidence of human trafficking in the Country.

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President Tinubu Signs updated List of Eligible Beneficiaries of State Pardons

Consequently, certain persons convicted of serious crimes such as kidnapping, drug-related offences, human trafficking, fraud, unlawful possession of firearms/arms dealing, etc, were deleted from the list.

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President Bola Ahmed Tinubu, has executed the relevant instruments of release to complete the process of formally exercising his constitutional power of prerogative of mercy to grant pardon and clemency to specific individuals who were earlier convicted for various offences.

Bayo Onanuga, Special Adviser to the President (information & Strategy), disclosed this in a statement on Wednesday.

He said that following consultations with the Council of State and public opinion on the matter, the President directed a further review of the initially approved list for consideration in furtherance of the President’s discretionary powers under Section 175(1)(&(2) of the 1999 Constitution (as amended).

Consequently, certain persons convicted of serious crimes such as kidnapping, drug-related offences, human trafficking, fraud, unlawful possession of firearms/arms dealing, etc, were deleted from the list.

Others who had been hitherto pardoned in the old list had their sentences commuted.

This action became necessary in view of the seriousness and security implications of some of the offences, the need to be sensitive to the feelings of the victims of the crimes and society in general, the need to boost the morale of law enforcement agencies and adherence to bilateral obligations.

The concept of justice as a three-way traffic for the Accused, the Victim, and the State/Society also guided the review.

The approved list of eligible beneficiaries has been transmitted to the Nigerian Correctional Service for implementation in line with the duly signed instruments of release.

Furthermore, to ensure that future exercises meet public expectations and best practices, the President has directed the immediate relocation of the Secretariat of the Presidential Advisory Committee on Prerogative of Mercy from the Federal Ministry of Special Duties to the Federal Ministry of Justice.

President Tinubu also directed the Attorney-General of the Federation to issue appropriate Guidelines for the Exercise of the Power of Prerogative of Mercy, which includes compulsory consultation with relevant prosecuting agencies.

This will ensure that only persons who fully meet the stipulated legal and procedural requirements will henceforth benefit from the issuance of instruments of release.

The President appreciated the constructive feedback and engagement from stakeholders and the general public on this matter.

President Tinubu also reaffirmed his administration’s broader commitment to judicial reforms and improving the administration of justice in Nigeria.

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170 Foreigners Seeking Nigerian Citizenship – Tunji Ojo

According to the Minister, the 170 applications will undergo rigorous scrutiny by a high-level panel comprising representatives from the Department of State Services, the Nigeria Immigration Service, the Ministry of Justice, and the Ministry of Foreign Affairs.

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One hundred and seventy (170) foreign nationals are seeking Nigerian citizenship.

Olubunmi Tunji-Ojo, Interior Minister, disclosed this in Abuja after chairing a meeting of the Citizenship Advisory Committee, which vets all citizenship requests before forwarding recommendations to President Bola Tinubu for approval.

Tunji-Ojo noted that citizenship of the world’s largest Black nation is not for everyone.

“Anyone who holds the citizenship of our great country must be a person of strong character and impeccable integrity, reflecting the true values of Nigeria,” he declared.

According to the Minister, the 170 applications will undergo rigorous scrutiny by a high-level panel comprising representatives from the Department of State Services, the Nigeria Immigration Service, the Ministry of Justice, and the Ministry of Foreign Affairs.

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