The House of Representatives on Thursday approved the ₦54.99 trillion 2025 Appropriation Bill, allocating funds to key national financial priorities.
The budget includes ₦3.645 trillion for statutory transfers, ensuring funding for constitutionally mandated entities. Debt servicing accounts for ₦14.317 trillion, highlighting Nigeria’s fiscal obligations. Recurrent expenditure, covering salaries, overhead costs, and government operations, stands at ₦13.64 trillion. Meanwhile, the highest allocation—₦23.963 trillion—is dedicated to capital projects under the development fund to drive infrastructure growth and economic expansion.
This approval follows President Bola Tinubu’s recent adjustment of the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion for legislative endorsement.
Further details to come…
