2025 budget: National Assembly passes N54.9trn into law
The Senate and House of Representatives have passed the N54.9 trillion 2025 Appropriation Bill presented by President Bola Tinubu into law
At the House of Representatives, the bill was passed after a clause-by-clause consideration by the Committee of the Whole on Thursday.
It was presented earlier by the Chairman, House Committee on Appropriations, Rep. Abubakar Kabir Abubakar Bichi, at the plenary and later considered by the Committee of the Whole for passage.
The budget was passed after the House reverted to plenary and a voice vote put by the Speaker, Abbas Tajuddeen.
The passed budget reads, “A Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N54.99 trillion only, of which N3.65 trillion is for Statutory Transfers.
“N14.32 is for Debt Service, N13.064 for Recurrent (Non-Debt) Expenditure.
“…the sum of N23.96 billion is for contribution to the |Development Fund for Capital Expenditure for the year ending on the 31 December, 2025.”
At the senate, the bill was passed following a report of the Senate Committee on appropriations, presented by its chairman, Senator Solomon Olamilekan Adeola (APC, Ogun West).
After the report, Senate President Godswill Akpabio, read out a breakdown of the total budget to the lawmakers.
Leader of the Senate, Senator Opeyemi Bamidele (APC, Ekiti Central) thereafter, moved a motion that the 2025 appropriation bill be passed for the third time. His motion was seconded by the Minority Leader, Senator Abba Moro (PDP, Benue South).
