The bill was passed separately by the Senate and the House of Representatives.
A breakdown of the budget showed N3.645 Trillion Naira for statutory transfers, N14.317 Trillion Naira for debt servicing, N13.64 Trillion Naira for recurrent expenditure and N23.96 Trillion Naira capital expenditure with fiscal deficit put at N13.08 Trillion Naira, while the Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%.
Recall that President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7 Trillion Naira to N54.2 Trillion Naira seeking approval from the Senate and the House of Representatives.
The Chairman of the House Committee on Appropriations, Abubakar Bichi, while presenting the bill for consideration, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.
According to him, the 2025 Appropriation Bill was presented late, compared to that of 2024. He urged the executive to present subsequent budgets to the National Assembly not later than three months before the next financial year, to maintain the January to December budget cycle.