Nigerian lawmakers have approved a 2025 budget of 54.99 trillion naira ($36.6 billion), surpassing the proposal submitted by President Bola Tinubu, the parliamentary speaker announced on Thursday.
President Tinubu had initially submitted a revised budget estimate of 54.2 trillion naira ($35.9 billion), expressing confidence in additional revenue from tax authorities, customs, and other agencies.
The upward adjustment made by the National Assembly is permitted under Nigerian law, which grants lawmakers the authority to adjust the government’s spending plans by increasing or reducing allocations.
A notable provision in the budget is $200 million earmarked for Nigeria’s health sector, following the suspension of U.S. aid to the sector.
The approved budget will now be sent to President Tinubu, currently serving his second term, for signing into law.
Africa’s most populous nation anticipates progress on Tinubu’s campaign promises to revive economic growth amid challenges such as a petrol subsidy removal and two currency devaluations, both of which have contributed to a high cost of living.
