2025 budget passes second reading

The 2025 Appropriation Bill and the Bill to extend the 2024 capital component to June 30, 2025 have scaled second reading before the House of Representatives. The two bills were passed after contributions and observations by members at the plenary on Thursday. The 2025 Appropriation Bill was titled, “A Bill for an Act to authorise […]

The 2025 Appropriation Bill and the Bill to extend the 2024 capital component to June 30, 2025 have scaled second reading before the House of Representatives.

The two bills were passed after contributions and observations by members at the plenary on Thursday.

The 2025 Appropriation Bill was titled, “A Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation, the total sum of N49,740,165,355,396 of which N4,435,761,358,925 for Statutory Transfers, N16,327,142,689,549 for
Debt Service, N14,123,544,196,406 for Recurrent (Non-Debt) Expenditure while the sum of N14,853,717,110,517 for contribution to the Development Fund for Capital Expenditure for the year ending 31 December, 2025 (HB. 2021)”.

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The bill was presented for Second Reading by the House Leader, Rep. Julius Ihonvbere.

Members had a lengthy time contributing and making observations on the various components of the budget as regards its possible impacts on Nigeria and Nigerians.

Similarly, the House also passed through second reading, a bill to extend the capital component of the 2024 Budget to June 30th, 2025 which was also presented on the floor of the House by the House Leader, Rep. Julius Ihonvere.

It was titled, “A Bill for an Act to Amend the Appropriation Act, 2024 to extend the Implementation of the Capital Component of the Appropriation Act, 2024 from 31 December, 2024 to 30 June 2025 and for Related Matters (HB.2023)”.

The two bills were passed through second reading after contributions and observations by members and voice vote put by the Deputy Speaker, Benjamin Okezie Kalu who presided over the plenary after the Speaker, Abbas Tajuddeen left for other engagements.

Recall that the Senate President, Godswill Akpabio, had on Wednesday during his address at the joint sitting and presentation of the 2025 budget by President Bola Ahmed Tinubu informed that, the 2024 capital budget would be extended to June 30th.

The House after the passage of the two bills through second reading adjourned till January 14, 2025.