- Safiu Kehinde
The House of Representatives has passed the N54.9 trillion amended 2025 budget through the third read.
Hon. Tajudeen Abass, the Speaker of the House, declared the passage of the budget at the Green Chamber’s plenary session on Thursday.
According to the Speaker, the consolidated fund of Federation as approved by the House is N54,990,165,355,396 only.
He declared N3.6 trillion as statutory transfer, N14.3 trillion for debt servicing, N13.6 trillion for recurrent non-debt expenditure, and N23.9 trillion capital expenditure.
As against the N49.7 trillion initially presented last year, President Bola Tinubu had last week asked the National Assembly to increase the budget to N54.2 trillion.
NPO reported that the President had cited additional revenue generated by key government agencies as reason for the increment.
According to him, the increase was driven by N1.4 trillion additional revenue from the Federal Inland Revenue Service (FIRS), N1.2 trillion from the Nigeria Customs Service (NCS), and N1.8 trillion from other government-owned agencies.