- The House of Representatives approved the 2025 Appropriation Bill, seeking N49.74 trillion for various allocations, including debt service and capital development
- After extensive discussions, Lawmakers also proposed extending the 2024 capital budget deadline to June 30, 2025
The 2025 Appropriation Bill and a proposal to extend the 2024 capital budget to June 30, 2025, have passed their second reading in the House of Representatives.
After extensive discussions and observations by lawmakers during Thursday’s plenary session, both bills were approved.
The 2025 Appropriation Bill, titled “A Bill for an Act to Authorise the Issue from the Consolidated Revenue Fund of the Federation” seeks approval for N49.74 trillion.
The allocations include N4.44 trillion for statutory transfers, N16.33 trillion for debt service, N14.12 trillion for recurrent (non-debt) expenditures, and N14.85 trillion for capital development under the Development Fund.
The House Leader, Rep. Julius Ihonvbere, presented the bill for the second reading. Lawmakers debated the budget’s allocations and its potential impacts on Nigeria’s economy and citizens.
Similarly, the House also considered a bill to amend the 2024 Appropriation Act, extending the capital expenditure implementation deadline from December 31, 2024, to June 30, 2025. Rep. Ihonvbere presented this amendment bill, titled “A Bill for an Act to Amend the Appropriation Act, 2024.”
Deputy Speaker Benjamin Okezie Kalu presided over the session and conducted a voice vote after the debates. The bills were subsequently passed for second reading. Speaker Abbas Tajuddeen had earlier excused himself for other engagements.
Earlier in the week, Senate President Godswill Akpabio announced the decision to extend the 2024 capital budget deadline during President Bola Ahmed Tinubu’s presentation of the 2025 budget.
Following the passage of the bills, the House adjourned its session until January 14, 2025.
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