BREAKING: Reps pass ₦54.99tn 2025 budget

• The budget approval followed the presentation of reports by the Senate and House Committees on Appropriations during plenary on Thursday
  

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The House of Representatives, on Thursday, passed the ₦54.99 trillion 2025 Appropriation Bill. The ₦54.99 trillion budget is structured to address key national financial commitments.

The budget breakdown includes:

N3.6 trillion for statutory transfers

N14.3 trillion for debt service

N13.6 trillion for recurrent (non-debt) expenditure

N23.9 trillion for capital expenditure

President Bola Tinubu had earlier written to the National Assembly, requesting an increase in the initial budget proposal from N49.7 trillion to N54.2 trillion due to additional revenue generated by key government agencies.

The budget approval followed the presentation of reports by the Senate and House Committees on Appropriations during plenary on Thursday.

Presenting the report, Chairman of the Senate Committee on Appropriations, Senator Olamilekan Adeola (APC, Ogun), and his House counterpart, Hon. Abubakar Bichi (APC, Kano), stated:

“The House receives the report of the Committee on Appropriations for the Bill of an Act to authorize the issuance of the total sum of N54.9 trillion from the Consolidated Revenue Fund of the Federation. This includes N3.6 trillion for statutory transfers, N14.3 trillion for debt service, N13.6 trillion for recurrent (non-debt) expenditure, and N23.9 trillion for the Development Fund for capital expenditure for the year ending December 31, 2025.”