The Nigerian Senate along with the House of Representatives have passed the 2025 Appropriation Bill, approving a record-breaking budget of N54,990,165,355,396 to finance government activities in the coming fiscal year.
By Haruna Salami
The Nigerian Senate along with the House of Representatives have passed the 2025 Appropriation Bill, approving a record-breaking budget of N54,990,165,355,396 to finance government activities in the coming fiscal year.
Titled as “A Bill for an Act to authorise the issue from the consolidated revenue fund of the federation the sum N54,990,165,355,396 was approved after deliberations on its allocations and implications for economic growth, debt management, and infrastructure development.
The chairman of the National Assemble Godswill Akpabio who is also the President of the Senate gave the breakdown of the 2025 Budget to show that Statutory Transfers: ₦3.65 trillion, debt Servicing: ₦14.32 trillion, Recurrent (Non-Debt) Expenditure: ₦13.06 trillion and Capital Expenditure: ₦23.96 trillion
The largest chunk of the budget, ₦23.96 trillion, was allocated for capital expenditure, aimed at infrastructure development, healthcare, education, and security.
This signals the government’s commitment to addressing Nigeria’s infrastructural deficit.
However, the ₦14.32 trillion earmarked for debt servicing highlights the country’s rising debt burden, sparking concerns over long-term financial sustainability.
With the National Assembly approval, the budget now awaits President Bola Tinubu’s assent, after which implementation will begin. Analysts predict a challenging fiscal year, balancing economic growth with prudent spending and debt repayment.
Unfortunately, the much talked about January to December budget cycle, which the government regards as an achievement will no longer be the case.
