19621st Republic
First National Development Plan
Six-year plan, ₦2.2 billion. Federal capital expenditure for the first time consolidated across the regions.
₦2.2bn (plan)
Annual budgets, in chronological order
1960 — 20241970Reconstruction
Second National Development Plan
Three Rs — reconstruction, rehabilitation, reconciliation. ₦3 billion programme.
₦3bn (plan)
1981Oil Boom
Fourth National Development Plan (Shagari)
₦82 billion plan. Imports surge; external debt grows from near-zero (1975) to $19 billion by 1983.
₦82bn (plan)
1986SAP
Structural Adjustment Programme budgets
Naira devaluation, removal of marketing boards, trade liberalisation. Federal spending falls in real terms.
Babangida
20004th Republic
Appropriation Act, 2000
First full-year democratic budget since 1983. ₦677 billion. Oil benchmark $20/barrel.
₦677bn
2005Debt Relief
Appropriation Act, 2005
₦1.8 trillion. Paris Club exit completed in October — $30bn debt cancelled / paid down for $12bn cash.
₦1.8tn
2010Recovery
Appropriation Act, 2010
₦4.6 trillion. SWF debate begins; ECA at peak post-rebasing.
₦4.6tn
2015Transition
Appropriation Act, 2015
₦4.49 trillion. Oil prices halve mid-year; first recession since 1991 looms.
₦4.49tn
2016Recession
Appropriation Act, 2016
₦6.06 trillion. 'Budget of Change'. Largest nominal jump to that date.
₦6.06tn
2020Pandemic
Revised Appropriation Act, 2020
₦10.81 trillion (revised down from ₦10.59tn benchmarked at $57/bbl to $28/bbl). First COVID-era supplementary.
₦10.81tn
2022Deficit
Appropriation Act, 2022
₦17.13 trillion. Fuel subsidy still in place — projected ₦4tn subsidy bill.
₦17.13tn
2023Deficit
Appropriation Act, 2023
₦21.83 trillion. Deficit ₦11.34tn — largest in nominal naira terms.
₦21.83tn
2024Reform Era
Appropriation Act, 2024
₦28.78 trillion (later supplementaries pushed total above ₦35tn). Debt service projected above ₦8tn.
₦28.78tn
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
Wikipedia is never a source.