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The National Assembly has passed the 2025 Appropriation Bill, approving a record-breaking budget of ₦54.99 trillion.
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The budget allocates ₦23.96 trillion for capital expenditure, aimed at infrastructure development, healthcare, education, and security.
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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.
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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.
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The appeal was withdrawn by Fubara’s counsel, Yusuf Ali.