National Assembly Passes Revised N48.32trn 2025 Budget
The National Assembly on Tuesday passed the revised N48.32 trillion 2025 budget and approved the extension of its implementation to March 31, 2026, following a request by President Bola Ahmed Tinubu.
President Tinubu had asked the parliament to repeal and re-enact the 2024 and 2025 Appropriation Acts, while also seeking an extension of the 2025 budget implementation timeline to March 31, 2026.
The request was contained in a letter dated December 18, 2025, and read during plenary sessions.
Both the Senate and the House of Representatives passed the appropriation bill after considering and adopting reports of their respective committees on appropriations.
For the 2025 fiscal year, lawmakers approved a bill authorising the issuance of N48,316,242,591,785 from the Consolidated Revenue Fund to cover government expenditure for the period ending March 31, 2026.
A breakdown of the approved budget shows that N3.646 trillion is earmarked for statutory transfers.
N14.317 trillion is allocated for debt servicing. Recurrent expenditure, excluding debt, is put at N13.588 trillion.
Capital expenditure through the development fund stands at N16.765 trillion.
In a related development, the National Assembly also approved the revised N43.56 trillion 2024 budget, with its implementation extended to end on December 31, 2025.
From the approved 2024 budget, N1.742 trillion is allocated for statutory transfers.
Debt servicing accounts for N8.271 trillion. Recurrent non-debt expenditure is pegged at N11.268 trillion.
Capital expenditure and development fund contributions are allocated N22.279 trillion.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
