The House of Representatives on Thursday passed the ₦54.99trn 2025 Appropriation Bill.
The bill was presented earlier by the Chairman, House Committee on Appropriations, Abubakar Bichi.
A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund).
Bichi, while presenting the bill for consideration, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.
According to him, the 2025 Appropriation Bill was presented late, compared to that of 2024, as he urged the executive to present subsequent budgets to the National Assembly not later than three months before the next financial year, to maintain the January to December budget cycle.
The budget was therefore passed after the House reverted to plenary and a voice vote was put by the Speaker, Abbas Tajuddeen.
9News Nigeria reports that President of the Senate, Godswill Akpabio, had on Tuesday announced that the defense report for the 54.2 trillion Naira 2025 budget will be presented to the Senate in plenary.
Akpabio confirmed that members of the Committee on Appropriations will present the report either on Wednesday or Thursday this week, as he emphasised the urgency of concluding the debate on the 2025 budget.
