N/Assembly passes N48.32trn revised 2025 budget

The National Assembly on Tuesday passed the revised N48.32 trillion 2025 budget and extended its implementation to March 31, 2026.

President Bola Ahmed 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 to March 31, 2026.

The request was contained in a letter dated December 18, 2025.

Both the Senate and the House of Representatives passed the appropriation bill after considering and adopting reports by the committees on appropriations during plenary sessions.

For the 2025 fiscal year, the lawmakers approved a bill authorising the issuance of N48,316,242,591,785 from the CRF to cover government expenditure for the period ending March 31, 2026.

The breakdown approval shows that N3.646trn is earmarked for statutory transfers, N14.317trn for debt service, N13.588trn for recurrent (non-debt) expenditure, while N16.765trn is provided for capital expenditure through the development fund.

In a related development, the lawmakers also approved the revised N43.56trn 2024 budget, with implementation ending on December 31, 2025.

Of the approved sum, N1.742trn is for statutory transfers, N8.271trn for debt servicing, N11.268trn for recurrent (non-debt) expenditure, while N22.279trn is allocated to capital expenditure and development fund contributions.

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