Breaking: House Of Reps Set To Approve Massive ₦54.9 Trillion 2025 Budget

The House of Representatives is set to approve a ₦54.9 trillion budget for the 2025 fiscal year, reflecting an increase of approximately ₦7 billion from the initial proposal.....KINDLY READ THE FULL STORY HERE▶

Of the total budget, ₦3.6 trillion is earmarked for statutory transfers, ₦14.3 trillion for debt servicing, ₦13.6 trillion for recurrent (non-debt) expenditures, and ₦23.9 trillion for capital projects.

President Bola Tinubu had earlier requested the National Assembly to raise the budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generated by key government agencies.

This move follows the presentation of the House Committee on Appropriations report during the plenary session on Thursday, February 13, 2025.

While laying the report, Appropriations Committee Chairman 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 ₦54.9 trillion from the Consolidated Revenue Fund, allocating ₦3.6 trillion for statutory transfers, ₦14.3 trillion for debt service, ₦13.6 trillion for recurrent (non-debt) expenditure, and ₦23.9 trillion for capital expenditure for the year ending December 31, 2025.”

Following the report’s submission, Speaker Abbas Tajudeen, who presided over the session, announced a short recess until 1:30 pm to consider the report.

Given past legislative proceedings, the budget is expected to pass a third and final reading after review by the Committee of Supply, chaired by the Speaker.