The House of Representatives has passed the N54.99 trillion 2025 Appropriation Bill during its plenary session on Thursday, February 13, 2025.
According to the presidency, the budget is designed to address key financial commitments across the country. A breakdown of the budget shows that N3.65 trillion has been allocated for statutory transfers to constitutionally mandated entities, while N14.32 trillion has been set aside for debt servicing and other fiscal obligations. Additionally, N13.64 trillion will cover recurrent expenditures, including salaries, overheads, and other government operations. Meanwhile, N23.963 trillion has been designated for capital projects.
The approval follows a recent upward revision of the budget by President Bola Tinubu, who increased it from N49.7 trillion to N54.2 trillion just last week before it was finalized at N54.99 trillion.
