Under the direction of Senate President Godswill Akpabio, the 10th Senate has begun discussing the ₦54 trillion 2025 Appropriation Bill, signaling a significant step in the development of the country’s economic policy.
Following a closed-door meeting, Senate Chairman Solomon Adeola submitted the Appropriations Committee report to the house after Senate Leader Opeyemi Bamidele introduced a resolution on Thursday for the chamber to accept it.
Emphasizing the significance of quick budget adoption, Senator Barau Jibrin, who presided over the plenary, asked MPs to speed up their assessment without sacrificing thoroughness.
With discussions anticipated on important areas including infrastructure, healthcare, education, and security, the Senate will now examine the proposed allocations article by clause.
Meanwhile, the House of Representatives authorized a national budget of ₦54.9 trillion for 2025, according to reports.
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Following the presentation and submission of a report by the House Committee on Appropriations, the budget was approved.
A total of ₦23.9 trillion is set aside for capital expenditures, ₦14.3 trillion for debt servicing, ₦13.6 trillion for recurring (non-debt) expenses, and ₦3.6 trillion for statutory transfers.
President Bola Tinubu presented parliament with a ₦49.7 trillion budget request in December 2024, which was around ₦7 billion more than the approved budget.
