The Senate has approved the second reading of the 2025 Appropriation Bill, amounting to N49.7 trillion. Tagged “The Restoration Budget: Securing Peace, Rebuilding Prosperity,” the budget proposal, presented by President Bola Ahmed Tinubu, aims to address national challenges while driving economic recovery and growth.
Key Budget Allocations:
- Statutory Transfers: N4.44 trillion
- Debt Service: N16.33 trillion
- Recurrent (Non-Debt) Expenditure: N14.12 trillion
- Capital Expenditure: N14.85 trillion
The bill, sponsored by Senate Leader Opeyemi Bamidele, was commended for its alignment with the administration’s priorities of peace, security, and economic restoration.
Following deliberations on the budget’s objectives and principles, the Senate adjourned plenary until January 14, 2025, allowing lawmakers to observe the Christmas and New Year holidays.
The budget proposal, submitted just 24 hours earlier, reflects the administration’s commitment to addressing pressing issues while fostering long-term prosperity.
