The House of Representatives on Thursday approved the N54.99 trillion 2025 Appropriation Bill, 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.
A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn.