The House of Representatives, on Thursday, passed the ₦54.99 trillion 2025 Appropriation Bill (budget) proposed by President Bola Tinubu.
The Tinubu-led Federal Government says the ₦54.99 trillion budget is structured to address key national financial commitments.
Statutory transfers account for ₦3.645 trillion, ensuring funding for constitutionally mandated entities.
A significant portion of the bill, ₦14.317 trillion, is allocated to debt servicing, reflecting Nigeria’s ongoing fiscal obligations.
The government spends ₦13.64 trillion on salaries, overheads, and government operations. The greatest allocation, ₦23.963 trillion, is for capital projects under the development fund, which aim to expand infrastructure and the economy.
Last Monday, President Bola Tinubu increased the planned 2025 budget from ₦49.7 trillion to ₦54.2 trillion, seeking legislative approval.
Tinubu has increased the anticipated 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing increased earnings from major government institutions.
The president communicated the adjustment in separate letters to both the Senate and the House of Representatives, which were read during Wednesday’s plenary by Senate President Godswill Akpabio.
Tinubu attributed the increase to ₦1.4 trillion in new revenue from the Federal Inland Revenue Service, ₦1.2 trillion from the Nigeria Customs Service, and ₦1.8 trillion earned by other government-owned institutions.
