The House of Representatives, on Thursday, passed the ₦54.99 trillion 2025 Appropriation Bill.
The bill was presented earlier by the Chairman, House Committee on Appropriations, Rep. Abubakar Kabir Abubakar Bichi, at the plenary and later considered by the Committee of the Whole for passage.
The budget was passed after the House reverted to plenary and a voice vote put by the Speaker, Abbas Tajuddeen.
Statutory transfers account for ₦3.645 trillion, ensuring funding for constitutionally mandated entities.
The ₦54.99 trillion budget is structured to address key national financial commitments.
A significant portion, ₦14.317 trillion, is allocated to debt servicing, reflecting Nigeria’s ongoing fiscal obligations.
Recurrent expenditure, which covers salaries, overhead costs, and government operations, amounts to ₦13.64 trillion. The largest portion, ₦23.963 trillion, is dedicated to capital projects under the development fund, focusing on infrastructure development and economic growth.
Last week, President Bola Tinubu raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, seeking legislative approval.
More details to follow…
