By National Assembly Approves ₦54.99 Trillion 2025 Budget Estimate
The Nigerian Senate, alongside the House of Representatives, has officially passed the 2025 Appropriation Bill, approving a historic budget of ₦54,990,165,355,396 to fund government operations for 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 extensive deliberations focused on its allocations, implications for the economy, and the country’s development priorities.
The breakdown of the budget was provided by the Chairman of the National Assembly and President of the Senate, Godswill Akpabio, who highlighted several key components.
Among these, ₦3.65 trillion has been allocated for statutory transfers, while ₦14.32 trillion is earmarked for debt servicing.
Additionally, ₦13.06 trillion is designated for recurrent (non-debt) expenditure, and ₦23.96 trillion is set aside for capital expenditure.
The largest portion of the budget, ₦23.96 trillion, will be directed towards capital expenditure, underscoring the government’s focus on critical sectors such as infrastructure development, healthcare, education, and security.
This allocation demonstrates the government’s intention to address the country’s significant infrastructural deficits and improve the overall quality of life for Nigerians.
However, the ₦14.32 trillion earmarked for debt servicing has raised concerns regarding the nation’s rising debt burden.
The substantial portion of the budget dedicated to servicing existing debt has sparked ongoing debates over Nigeria’s long-term financial sustainability and the need for better debt management strategies.
