The House of Representatives has passed the 2025 appropriation bill totalling N54.99 trillion.
The budget which was passed on Thursday after considering and approving the report of the committee on Appropriation. The budget saw an increase by N700 billion from the N54.2trillion 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
Read also: Senate to receive report on N54.2trn 2025 budget this week – Akpabio
Abubakar Abubakar, cahirman of the committee who 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 N54.9 trillion 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.
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