The National Assembly has officially approved the 2025 budget, totalling N54.9 trillion, following a plenary session in the Senate on Thursday, presided over by Senate President Godswill Akpabio.
This approval comes just two months after President Bola Ahmed Tinubu presented the initial budget proposal of N47.9 trillion to the National Assembly on 18th December, 2024.
The budget underwent thorough scrutiny by lawmakers in recent weeks. During a clause-by-clause examination on Thursday, the House of Representatives also passed the revised figure, increasing the initial sum by N7 trillion to N54.9 trillion.
The approval marks the culmination of several weeks of legislative deliberations, with the increase reflecting additional allocations for key sectors, though specific details on the new spending priorities have not yet been disclosed.
The approval sets the stage for the government to begin implementing its planned fiscal policies for 2025, aimed at tackling Nigeria’s economic challenges and promoting sustainable growth.
Get a premium automobile insurance coverage for your vehicle for as low as #15000 only and claim up to #3,000,000 in damages @Zenith InsuranceTo signup: WhatsApp/Call: +2349028313757
