The House of Representatives on Thursday approved the N54.99 trillion 2025 Appropriation Bill, finalizing Nigeria’s budget for the upcoming fiscal year.
President Bola Tinubu initially proposed a N49.7 trillion budget, later revising it to N54.2 trillion before seeking legislative approval.
A breakdown of the approved budget includes:
- N3.645 trillion for statutory transfers
- N14.317 trillion for debt servicing
- N13.64 trillion for recurrent expenditure
- N23.963 trillion for capital expenditure (development fund)
- N13.08 trillion fiscal deficit
The budget aims to drive economic growth while addressing key national priorities.
