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    Home → National → Bichi speaks on increase of 2025 budget by N700bn
    Bichi speaks on increase of 2025 budget by N700bn

    Bichi speaks on increase of 2025 budget by N700bn

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    By Naija Daily News on February 13, 2025 National
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    By Deborah Nnamdi

    The Chairman of the Appropriation Committee, Abubakar Bichi, has attributed the N700 billion increase in the 2025 budget to the withdrawal of U.S. health support and the need to fund critical infrastructure projects across Nigeria.

    Bichi, in a statement, explained that the United States government recently halted its health assistance to several countries, including Nigeria, prompting the government to allocate additional resources to the health sector.

    According to Bichi, the president proactively requested an additional $200 million (approximately N300 billion) to support healthcare programs targeting tuberculosis, HIV, malaria, and polio.

    He further clarified that an executive proposal outlined an estimate of N340 billion for health and other priority sectors.

    “When combined, this totals around N640 billion,” he noted.

    Additionally, several government agencies, including INEC, NFYU, DSS, and others, submitted requests, further raising the budget increase to ₦700 billion.

    Bichi emphasized that the budget expansion would also help address Nigeria’s capital expenditure deficit, which currently stands at N23 trillion.

    The additional funds will support: Rail projects, road infrastructure, agriculture, and education.

    Addressing concerns about funding, Bichi reassured Nigerians that the government had carefully assessed revenue sources before approving the budget increase.

    “Before making this decision, we met with the Ministry of Finance, the Nigerian Customs Service, and the Federal Inland Revenue Service (FIRS). They assured us that they could generate enough revenue to support the budget expansion,” he stated.

    With this increase, the government aims to strengthen critical sectors, enhance economic growth, and improve public services nationwide.

    See also  Tinubu mourns Oyo stampede victims, demands thorough investigation
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