Reps Set To Pass N54.9 Trillion 2025 Budget, Increase Proposal By N7bn
The House of Representatives is poised to pass the N54.9 trillion budget for the 2025 financial year, which has seen an increase of about N7 billion from the initial proposal.
The budget breakdown includes N3.6 trillion allocated for statutory transfers, N14.3 trillion for debt servicing, N13.6 trillion for recurrent (non-debt) expenditure, and N23.9 trillion earmarked for capital expenditure.
President Bola Tinubu had previously written to the National Assembly requesting the revision of the initial N49.7 trillion budget proposal, seeking an increase to N54.2 trillion due to additional revenue generated by key government agencies.
This followed the presentation and laying of the House Committee on Appropriations’ report on Thursday. The report was presented by the Chairman of the Appropriations Committee, Hon. Abubakar Bichi (APC, Kano), who said: “The House does receive the report of the Committee on Appropriations for the Bill of an Act to authorise 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 is for debt service; N13.6 trillion is for recurrent (non-debt) expenditure, while the sum of N23.9 trillion is for contribution to the development fund for capital expenditure for the year ending 31st December, 2025.”
Following the presentation, Speaker Abbas Tajudeen, who presided over the session, stated that the House would take a short break and reconvene at 1:30 pm to continue deliberating on the report.
In line with recent procedures, the House is expected to suspend its relevant rules and pass the Appropriation Bill through a third and final reading after the Committee of Supply, chaired by the Speaker, reviews the report.
