The House of Representatives on Thursday passed the 2025 Appropriation Bill, raising the total estimates by N700 billion from the proposed N54.2 trillion to 54,990,165,355,396.
In the bill passed, the sum of N3,645,761,358,925 was earmarked for statutory transfers, N14,317,142,689,548 for debt servicing, N13,064,009,682,673 for recurrent expenditure while N23,963,251,624,250 only is for contribution to the Development Fund for Capital Expenditure for the year ending on December 31, 2025.
The passage of the budget followed the consideration and adoption of the report by the House Committee on Appropriations on the bill at the plenary on Thursday.
The report came on a supplementary order paper which was later issued during the session.
The budget was passed after the Chairman of the appropriation committee, Abubakar Bichi presented the committee’s report to the House. The bill was considered by the Committee of Supply on a clause-by-clause basis.
President Bola Tinubu had initially presented N49.7tn to the joint session of the National Assembly but later raised the amount to N54.2 trillion.
The increase, according to the President, is based on additional revenues generated by key government agencies, including the Federal Inland Revenue Service (N1.4 trillion), Nigeria Customs Service (N1.2 trillion), and other government-owned agencies (N1.8 trillion).