National Assembly Approves Historic ₦54.99 Trillion Budget for 2025
The Nigerian Senate and House of Representatives have passed the 2025 Appropriation Bill, approving a record-breaking ₦54.99 trillion budget to fund government activities for the upcoming fiscal year. The budget, designed to drive economic growth and infrastructure development, was deliberated upon before receiving final approval.
Senate President Godswill Akpabio provided a breakdown of the budget, which includes ₦3.65 trillion for statutory transfers, ₦14.32 trillion for debt servicing, ₦13.06 trillion for recurrent expenditure, and ₦23.96 trillion for capital expenditure. The largest portion is allocated to infrastructure, healthcare, education, and security, reflecting the government’s focus on national development.
However, the significant ₦14.32 trillion earmarked for debt servicing has raised concerns about Nigeria’s increasing debt burden and long-term financial sustainability. With this budget, the government aims to address economic challenges while ensuring critical sectors receive the necessary funding.
Nigeria 2025 budget approval.
