The Nigerian Senate has passed the 2025 appropriation bill, thereby approving a budget of N54.9 trillion for the current fiscal year.
The approval came on Thursday during a plenary session.
The budget includes N3.6 trillion for statutory transfers and N14.3 trillion for debt servicing.
Recurrent expenditure is allocated N13.5 trillion, while N23.9 trillion is set aside for capital projects.
Chairman of the Appropriation Committee, Senator Olamilekan Solomon Adeola, presented the final document.
He noted that the delayed submission of the budget proposal affected its passage.
He urged President Bola Tinubu to submit future budget proposals at least three months before the year’s end.
This, he explained, would help maintain the January-to-December budget cycle.
