The House of Representatives on Thursday, passed a national budget of ₦54.9 trillion for the year 2025.
The budget was passed following the presentation and submission of a report by the House Committee on Appropriations.
Naija News reports that of the total budget, ₦3.6 trillion is allocated for statutory transfers, ₦14.3 trillion for debt servicing, ₦13.6 trillion for recurrent (non-debt) expenditures, and ₦23.9 trillion designated for capital expenditures.
The approved budget is approximately ₦7 billion over the initial proposal of ₦49.7 trillion submitted to the lawmakers by President Bola Tinubu in December 2024.
Details later…
