National Assembly Passes N54.9 Trillion 2025 Budget
The National Assembly has approved a budget of N54.9 trillion for the 2025 financial year, marking a N700 billion increase from the original proposal of N54.2 trillion.
The budget breakdown is as follows:
- N3.6 trillion for statutory transfers
- N14.3 trillion for debt servicing
- N13.6 trillion for recurrent (non-debt) expenditures
- N23.9 trillion for capital expenditure
This approval follows President Bola Tinubu’s earlier request to increase the initial budget from N49.7 trillion to N54.2 trillion, citing additional revenue generated by key government agencies.
The Senate and House Committees on Appropriations presented their reports, with Senators Olamilekan Adeola (APC, Ogun) and Abubakar Bichi (APC, Kano) outlining the key details of the budget. The approved amount will be drawn from the Consolidated Revenue Fund of the Federation to fund government activities for the year ending December 31, 2025.
