The N54.9 trillion 2025 budget is approved by the National Assembly.

 

The National Assembly has approved a budget of N54.9 trillion for the 2025 financial year, which is an increase of N700 billion from the initial proposal of N54.2 trillion.

 

President Bola Tinubu requested an increase in the budget from the originally proposed N49.7 trillion, and the approval was granted based on the additional revenue generated by key government agencies.

 

During Thursday's plenary session, the Senate and House Committees on Appropriations presented their reports, highlighting allocations for statutory transfers, debt servicing, recurrent expenditures, and capital projects.

 

Chairman of the Senate Committee on Appropriations, Senator Olamilekan Adeola, alongside his House counterpart, Abubakar Bichi, confirmed that the funds would be drawn from the Consolidated Revenue Fund of the Federation.

 

This approval will ensure that the 2025 budget will guide the country's fiscal operations until December 31, 2025.