The National Assembly has approved Nigeria’s 2025 budget, increasing the total allocation to N54.9 trillion—N700 billion higher than the initial N54.2 trillion proposal.
The budget includes N3.6 trillion for statutory transfers, N14.3 trillion for debt servicing, N13.6 trillion for recurrent (non-debt) expenditure, and N23.9 trillion for capital projects.
President Bola Tinubu had earlier requested a revision from the initial N49.7 trillion budget, citing increased government revenue. The approval came after reports were presented by the Senate and House Committees on Appropriations.
Presenting the report, Chairman of the Senate Committee on Appropriations, Senator Olamilekan Adeola (APC, Ogun), and his House counterpart, Abubakar Bichi (APC, Kano), said: “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.”
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