From Victor Osula, Abuja
The National Assembly has passed the 2025 Appropriation Bill, raising the total budget to N54.9 trillion—an increase of about N7 billion from the initial proposal.
President Bola Tinubu had originally presented a budget of N49.7 trillion to a joint session of the National Assembly on December 18, 2024. Tagged the “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” the proposal prioritized security, infrastructure, health, and education.
However, citing additional revenue generated by key government agencies, Tinubu, in a letter to both chambers on February 5, revised the budget to N54.2 trillion.
The final approval came on Thursday after the Senate and House of Representatives considered and adopted the harmonized reports of their respective Appropriations Committees.
Presenting the report at the House, Chairman of the Appropriations Committee, Abubakar Bichi (APC, Kano), said, “The House receives the report of the Committee on Appropriations for a Bill to authorize the issue from the Consolidated Revenue Fund of the Federation the total sum of N54.9 trillion, of which N3.6 trillion is for statutory transfers; N14.3 trillion for debt service; N13.6 trillion for recurrent (non-debt) expenditure; while N23.9 trillion is earmarked for capital expenditure for the year ending December 31, 2025.”
Bichi added that the committee had engaged with the Presidential Economic Planning Team to further refine revenue projections and expenditure details for the fiscal year.
