National Assembly passes N54.9trn 2025 budget
The Senate and House of Representatives have passed the N54.9 trillion 2025 Appropriation Bill presented by President Bola Ahmed Tinubu. 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 […]
The Senate and House of Representatives have passed the N54.9 trillion 2025 Appropriation Bill presented by President Bola Ahmed Tinubu.
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.
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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 N54,990,1 65,355, 396(Fifty-Four Trillion, Nine Hundred and Ninety Billion One Hundred and Sixty-Five Million, Three Hundred and Fifty-Five Thousand, Three Hundred and Ninety-Six Naira) only, of which N3,645,761,358,925 (Three Trillion, Six Hundred and Forty-Five Billion, Seven Hundred and Sixty-One Million, Three Hundred and Fifty-Eight Thousand, Nine Hundred and Twenty-Five Naira) only is for Statutory Transfers.
“N14,317.142,689,548 (Fourteen Trillion, Three Hundred and Seventeen Billion, One Hundred and Forty-Two Million, Six Hundred and Eighty-Nine Thousand, Five Hundred and Forty-Eight Naira) only is for Debt Service, N13,064,009,682,673 (Thirteen Trillion, Sixty-Four Billion, Nine Million, Six Hundred and Eighty-Two Thousand, Six Hundred and Seventy-Three Naira) only is for Recurrent (Non-Debt) Expenditure.
“…the sum of N23,963, 251,624,250 (Twenty-Three Trillion, Nine Hundred and Sixty-Three Billion, Two Hundred and Fifty-One Million, Six Hundred and Twenty-Four Thousand, Two Hundred and Fifty Naira) only 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).