Reps pass ₦54.9trn budget, raises budget by N700bn

The House of Representatives has passed the 2025 appropriation bill totalling N54.99 trillion.

The Bill was which was read for the third time on Thursday after considering and approving the report of the Committee on Appropriation on indicates an increase of N700 billion from the N54.2 trillion proposed by President Bola Tinubu.

Tinubu had raised the proposed budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies

Abubakar Abubakar, chairman of the committee that presented the report said the additional increase was to cater for some ministries and agencies that demanded more funding such as the Independent National Electoral Commission (INEC), the Department of State Security (DSS), NDLEA, among others.

Of the total N54,990,165,355, 396 budget, N3.6 trillion is for Statutory Transfers N14.3 trillion is for Debt Service, N13 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 on the 31 December.