January 21, 2025 — The re-enacted 2024 and 2025 Appropriation Acts represent a significant shift toward “Human Capital Development” and “Critical Infrastructure.” Unlike previous budgets that were heavy on recurrent administrative costs, the 2025 re-enacted budget allocates a historic 35% of total expenditure to Capital Development, with a specific focus on the Renewed Hope Infrastructure Fund (RHIF).
The RHIF is designed to bridge Nigeria’s $2.3 trillion infrastructure gap. Key projects highlighted in the re-enacted acts include the completion of the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Superhighway, and the modernization of the North-South rail corridors. By re-enacting the budget, the government has been able to secure the specific funding tranches needed for these multi-year projects, ensuring they are not affected by annual legislative expirations.
Beyond concrete and steel, the re-enacted budget scales up the Social Investment Programme (SIP). Significant billions have been earmarked for the “Direct Cash Transfer” program, reaching 15 million vulnerable households to cushion the effect of the cost-of-living crisis. Additionally, the Student Loan Scheme has seen its funding tripled in the re-enacted 2025 budget, ensuring that no Nigerian student drops out of tertiary education due to a lack of funds.
The National Library’s role in documenting these releases is crucial for future policy evaluation. By archiving the specific allocations for “Social Safety Nets” and “Infrastructure,” researchers in the future will be able to track the direct correlation between these budgetary interventions and the projected reduction in Nigeria’s poverty rate from 46% to 37% by the end of 2026.
