By Deborah Nnamdi
The House of Representatives, on Thursday, passed the N54.99 trillion 2025 Appropriation Bill.
The presidency says the N54.99 trillion budget is structured to address key national financial commitments.Statutory transfers account for N3.645 trillion, ensuring funding for constitutionally mandated entities.
A significant portion, N14.317 trillion, is allocated to debt servicing, reflecting Nigeria’s ongoing fiscal obligations.
Recurrent expenditure, covering salaries, overheads, and government operations, takes up N13.64 trillion, while the highest allocation, N23.963 trillion, is earmarked for capital projects under the development fund, aimed at infrastructure growth and economic expansion.
Recall that President Bola Tinubu raised the proposed 2025 budget from N49.7 trillion to N54.2 trillion, seeking legislative approval.
The budget was subjected to legislative scrutiny in the past weeks, after which the lawmakers reviewed it from the initial sum of N47.9 trillion to 54.9 trillion.
