The national budget of ₦54.9 trillion for 2025 was approved by the House of Representatives on Thursday.
Following the House Committee on Appropriations’ presentation and submission of a report, the budget was approved.
Approximately 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, according to the study.
The approved budget differs by about ₦7 billion from President Bola Tinubu’s original ₦49.7 trillion request that was presented to parliament in December 2024.
Read Also: Presidency Rejects Publication on Fela Durotoye, ₦5B Fraud Allegation
Remember how 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? He did this by pointing to the capabilities of some government agencies to generate larger income.
Details will be shared later.
