ENUGU, Nigeria (VOICE OF NAIJA)- The House of Representatives has approved the N54.99 trillion 2025 Appropriation Bill, marking a significant milestone in Nigeria’s fiscal planning for the year.
The budget breakdown includes: N3.645 trillion for statutory transfers, N14.317 trillion for debt servicing, N13.64 trillion for recurrent expenditure and 23.963 trillion for capital expenditure (development fund).
The passage follows President Bola Tinubu’s recent decision to increase the 2025 fiscal budget from N49.7 trillion to N54.2 trillion, later adjusted to N54.99 trillion.
READ ALSO: N54tr Budget Increase: Peter Obi Calls For Transparency
The increase required approval from both the Senate and the House of Representatives.
While presenting the bill for consideration, Chairman of the House Committee on Appropriations, Abubakar Bichi, emphasized that the committee engaged with the Presidential Economic Planning Team to review revenue projections and expenditure allocations.
“The 2025 Appropriation Bill was presented later than expected compared to the 2024 budget,” Bichi noted.
He urged the executive branch to ensure that future budgets are submitted to the National Assembly at least three months before the next financial year to maintain Nigeria’s January-to-December budget cycle.
According to Channels, with this approval, the 2025 budget is set to drive economic development, infrastructure projects, and fiscal sustainability, while addressing Nigeria’s debt servicing obligations.