The National Assembly has passed a revised budget of N54.9 trillion for the 2025 financial year, marking an increase of N700 billion over the initial proposal of N54.2 trillion.
The comprehensive budget allocation breaks down as follows: N3.6 trillion for statutory transfers, N14.3 trillion for debt servicing, N13.6 trillion for recurrent (non-debt) expenditures, and N23.9 trillion for capital projects.
President Bola Tinubu had earlier requested the increase, citing additional revenue generated by key government agencies.
The final approval was based on detailed reports from the Senate and House Committees on Appropriations presented during a plenary session on Thursday.
Chairman of the Senate Appropriations Committee, Senator Olamilekan Adeola (APC, Ogun), along with his counterpart Abubakar Bichi (APC, Kano), highlighted that the budget reflects a robust financial framework designed to drive national development.
This budget approval is expected to fuel significant investments in infrastructure, social services, and economic reforms throughout Nigeria in the coming year.
