Home News National Assembly Passes ₦54.99trn 2025 Budget Estimate
News

National Assembly Passes ₦54.99trn 2025 Budget Estimate

Share
National Assembly Passes ₦54.99trn 2025 Budget Estimate | Daily Report Nigeria
Share
  • The National Assembly has passed the 2025 Appropriation Bill, approving a record-breaking budget of ₦54.99 trillion.

  • The budget allocates ₦23.96 trillion for capital expenditure, aimed at infrastructure development, healthcare, education, and security.

  • However, the ₦14.32 trillion earmarked for debt servicing has raised concerns over Nigeria’s rising debt burden and long-term financial sustainability.

The Nigerian Senate, along with the House of Representatives, has passed the 2025 Appropriation Bill, approving a record-breaking budget of ₦54,990,165,355,396 to finance government activities in the coming fiscal year.

The budget, titled A Bill for an Act to Authorize the Issue from the Consolidated Revenue Fund of the Federation, was approved after deliberations on its allocations and implications for economic growth, debt management, and infrastructure development.

According to the Chairman of the National Assembly, Godswill Akpabio, who is also the President of the Senate, the 2025 Budget breakdown includes Statutory Transfers: ₦3.65 trillion, Debt Servicing: ₦14.32 trillion, Recurrent (Non-Debt) Expenditure: ₦13.06 trillion, and Capital Expenditure: ₦23.96 trillion.

READ ALSO: National Assembly Resumes Today, Sets to Expedite Action on Tax Reform Bills

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,” Akpabio said.

However, the ₦14.32 trillion earmarked for debt servicing has raised concerns over Nigeria’s rising debt burden and long-term financial sustainability.

Supreme Court Dismisses Fubara’s Appeal Against Amaewhule-Led Assembly

The Supreme Court has dismissed an appeal filed by Rivers State Governor, Siminalayi Fubara, challenging the leadership of the State House of Assembly under Speaker Martin Amaewhule.

The appeal was withdrawn by Fubara’s counsel, Yusuf Ali.

Continue Reading Here

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
FG Unveils Requirements for Civil Servants Seeking Name, Next-of-Kin Changes | Daily Report Nigeria
News

FG Unveils Requirements for Civil Servants Seeking Name, Next-of-Kin Changes

FG has unveiled requirements for civil servants seeking to migrate their salaries,...

PAP: Ijaw Publishers' Forum Hails Dr. Dennis Otuaro for Transformative Reforms | Daily Report Nigeria
News

PAP: Ijaw Publishers’ Forum Hails Dr. Dennis Otuaro for Transformative Reforms

The Ijaw Publishers’ Forum (IPF) has commended Dr. Dennis Otuaro, the administrator...

FLASH: Quranic Teacher Kills Pupil In Jigawa | Daily Report Nigeria
News

FLASH: Quranic Teacher Kills Pupil In Jigawa

The police force in Jigawa state have arrested a cleric for murder....

Dangote refinery
News

Dangote Refinery Reduces Fuel Price Again, Now N815 per litre

Dangote Refineries engineers new price, lowers cost of petrol per litre. Competition...