The House of Representatives has passed the 2025 Appropriation Bill into law.
The House of Representatives during the plenary session on Thursday approved the N54.99 trillion, finalizing the country’s budget for the upcoming fiscal year.
President Bola Tinubu had initially proposed a N49.7 trillion budget but later revised it to N54.2 trillion before seeking legislative approval.
While the sum of N23.963 trillion was passed for capital expenditure development fund), a sum of N13.64 trillion was approved for the recurrent expenditure by the House.
A breakdown of the budget further revealed that a sum of N3.645 trillion and N14.317 trillion were budgeted for statutory transfers and debt servicing.
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