The House of Representatives has passed the sum of N54.9 trillion as budget for the 2025 fiscal year.
The House passed the bill on Thursday after chairman of the committee on appropriation, Abubakar Bichi, presented the report.
The appropriation bill is also expected to be passed by the Senate.
President Bola Tinubu had on February 5 written to the National Assembly to increase the proposed 2025 budget from N49.7 trillion to N54.2 trillion.
The president had early proposed a budget of N49.7 trillion for the fiscal year, which he presented to a joint session of the National Assembly on December 18, 2024
The president’s request to jerk up the budget was contained in a letter read by Senate President Godswill Akpabio on the floor of the Senate.
In his letter to the National Assembly, Tinubu stated that the increase was as a result of N1.4 trillion additional revenues made by the Federal Inland Revenue Service (FIRS), N1.2 trillion made by the Nigeria Customs Service and N1.8 trillion generated by some other government agencies.
After reading the President’s letter, Akpabio directed the request to the Committee on Appropriations for expeditious consideration.
He assured that the budget would be considered, concluded and passed before the end of February.
