Breaking: 2025 Budget: House of Reps Passes ₦54.9 Trillion Appropriation Bill

The ₦54.9 trillion national budget for 2025 was approved by the House of Representatives on Thursday.
After the House Committee on Appropriations presented and submitted a report, the budget was approved.
It was stated that 3.6 trillion naira is set aside for statutory transfers, 14.3 trillion for debt payment, 13.6 trillion for recurring (non-debt) expenses, and 23.9 trillion for capital expenditures out of the overall budget.
The approved budget is around ₦7 billion more than the ₦49.7 trillion that President Bola Tinubu first proposed to the lawmakers in December 2024.

Read Also: Tinubu’s Govt Denies Allegation on Fela Durotoye and ₦5B Contract

As you may remember, President Tinubu wrote to the Senate and the House of Representatives last week to request their approval of an increase in the budget for the 2025 fiscal year, citing the capacity of some government institutions to produce more income.

Details will be provided later.