The House of Representatives on Thursday passed the ₦54.99 trillion 2025 Appropriation Bill.

A breakdown of the budget allocation includes ₦3.645 trillion for statutory transfers, ₦14.317 trillion for debt servicing, ₦13.64 trillion for recurrent expenditure, and ₦23.963 trillion for capital expenditure (development fund).

Last week, President Bola Tinubu raised the proposed 2025 fiscal budget from an initial ₦49.7 trillion to ₦54.2 trillion, seeking approval from both the Senate and the House of Representatives.

Presenting the bill for consideration, Abubakar Bichi, Chairman of the House Committee on Appropriations, stated that the committee engaged with the Presidential Economic Planning team to further assess revenue projections and expenditure plans for the 2025 Appropriation Bill.

Bichi noted that the 2025 budget was submitted later than the previous year’s and urged the executive to ensure future budgets are presented to the National Assembly at least three months before the next financial year, to sustain the January-to-December budget cycle.