House of Representatives has passed the sum of N54.9 trillion as budget for 2025 fiscal year.
The appropriation bill was also passed by the Senate.
The lower chamber passed the bill on Thursday after Abubakar Bichi, chairman of the committee on appropriation, presented the report.
Recall that President Bola Ahmed Tinubu on 18 December, presented N49,740,165,355,396 as budget for 2025 before the joint sitting of the Senate and the House of Representatives.
President Tinubu on February 5, asked the national assembly to raise the budget by N4,530,479,970,637.
The upper and lower House of Assembly on Thursday, passed N54,990,165,355,396 as 2025 budget, with an increase of N719,520,029,363.
Out of the figure passed, N3.65 trillion is for statutory transfer, debt service is N14.32 trillion, N13.06 trillion is earmarked for recurrent (non-debt) expenditure, and contribution to the development fund for capital expenditure isN23.96 trillion.
The House of Representatives asked President Tinubu to submit the budget for the next fiscal year three months before the end of the year.
