Reps Move To Approve ₦54.9 Trillion 2025 Budget

The House of Representatives is poised to approve a budget of ₦54.9 trillion for the 2025 fiscal year, representing an increase of approximately ₦7 billion over the initial proposal.

Naija News reports that of the total budget, ₦3.6 trillion is allocated for statutory transfers, ₦14.3 trillion for debt servicing, ₦13.6 trillion for recurrent (non-debt) expenditures, and ₦23.9 trillion designated for capital expenditures.

Recall that President Bola Tinubu has communicated with the National Assembly, advocating for an increase in the original budget proposal from ₦49.7 trillion to ₦54.2 trillion, citing additional revenue generated by key government agencies.

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

Presenting the report at the plenary on Thursday, Chairman of the Appropriations Committee, Abubakar Bichi (APC, Kano) said: “The House do 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 ₦54.9 trillion, of which ₦3.6 trillion is for statutory transfers; ₦14.3 trillion is for the debt service; ₦13.6 trillion is for recurrent (non-debt) expenditure while the sum of ₦23.9 trillion is for contribution to the development fund for capital expenditure for the year ending 31st December 2025.”

After the report was laid, Speaker Abbas Tajudeen, who presided over the session, said the House would go on break and resume at 1:30 pm to consider the report.

“Right Honourable colleagues, we will take a short break to resume by 1:30 pm to continue with the consideration of the report of the Appropriation Bill,” the Speaker said.

Going by recent antecedents, after the consideration by the Committee of Supply chaired by the Speaker, the House would suspend its relevant rules and pass the budget (Appropriation Bill) through a third (final) reading.