The National Assembly has passed the 2025 Appropriation Bill, approving a total budget of ₦54.99 trillion to fund government activities for the fiscal year.
The budget, titled A Bill for an Act to Authorize the Issue from the Consolidated Revenue Fund of the Federation, was approved following extensive deliberations on its allocations and potential impact on economic growth, debt servicing, and infrastructure development.
Announcing the breakdown, Senate President Godswill Akpabio, who also serves as Chairman of the National Assembly, provided the key figures:
Statutory Transfers – ₦3.65 trillion
Debt Servicing – ₦14.32 trillion
Recurrent (Non-Debt) Expenditure – ₦13.06 trillion
Capital Expenditure – ₦23.96 trillion
The largest allocation, ₦23.96 trillion, is directed toward capital expenditure, covering infrastructure, healthcare, education, and security.
However, the allocation of ₦14.32 trillion for debt servicing has raised concerns over the country’s growing debt burden and its long-term financial sustainability.
By Anthony Ogbekile
