National Assembly passes ₦54.99tr 2025 budget estimate

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.
The Chairman of the National Assembly, Godswill Akpabio, who is also the President of the Senate, gave the breakdown of the 2025 Budget to show that Statutory Transfers: ₦3.65 trillion, Debt Servicing: ₦14.32 trillion, Recurrent (Non-Debt) Expenditure: ₦13.06 trillion, and Capital Expenditure: ₦23.96 trillion.

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.

However, the ₦14.32 trillion earmarked for debt servicing highlights the country’s rising debt burden, sparking concerns over long-term financial sustainability.