The House of Representatives has approved the 2025 budget estimate of N54.9 trillion, following the presentation of a report by the Joint Committee on Appropriation. The approval came after Hon. Abubakar Kabiru Bichi, Chairman of the House Committee on Appropriation, presented the committee’s report during a plenary session.
President Bola Tinubu had initially proposed a budget of N49.9 trillion in December 2024. However, he later requested an additional N5 trillion, bringing the total budget estimate to N54.9 trillion. The House’s approval marks a significant step in the budgetary process, paving the way for further legislative scrutiny and eventual implementation.
The budget is expected to address critical areas such as infrastructure development, healthcare, education, and security, among others. The increase in the budget size reflects the government’s commitment to tackling the nation’s economic challenges and driving sustainable growth.
The approval by the House of Representatives is part of the constitutional process required for the budget’s passage. The document will now be forwarded to the Senate for concurrence before being sent to President Tinubu for final assent.
This development reaffirms the collaborative efforts between the executive and legislative arms of government to ensure the timely passage of the budget, which is crucial for the effective functioning of the economy and the delivery of public services.