ABUJA, Feb 13 (Reuters) – Nigerian lawmakers approved a budget of 54.99 trillion naira ($36.6 billion) for 2025, exceeding the proposal submitted by President Bola Tinubu, the parliamentary speaker said on Thursday.

Tinubu last week submitted a revised budget estimate of 54.2 trillion naira to the National Assembly due to additional earnings expected from revenue collection, including from the tax authority, customs and other agencies.

But lawmakers raised the amount again before granting their approval. Under Nigerian law, parliament can increase or cut the government’s spending plans.

The budget will be sent to Tinubu to be signed into law.

Nigeria made a provision of $200 million in the spending plan to fill gaps created by the United States’ suspension of aid to Nigeria’s health sector.

Tinubu, now in his second year in office, had vowed during his campaign to revive growth in Africa’s most populous country. But swift reforms – including ending a petrol subsidy and two currency devaluations – implemented shortly after he came to power have driven up prices, triggering a cost-of-living crisis.

Inflation is expected to fall sharply to around 15% this year from a three-decade high of 34.80% in January, helped by lower fuel imports, Tinubu said in December.

The government said that spending priorities in 2025 would include bolstering security, investing in infrastructure, and implementing measures to ease the impact of the rising living costs.

The deficit is estimated to be 1.52% of the gross domestic product, or around 13 trillion naira.

(Reporting by Camillus Eboh; Writing by Elisha Bala-Gbogbo; Editing by Alex Richardson and Ros Russell)