(SINL NIGERIA) The National Assembly on Thursday passed the 2025 Appropriation Bill of N54.9trillion.
The breakdown of the allocations are: Health Sector Intervention: ₦300 billion has been set aside to procure vaccines and drugs for TB, HIV/AIDS, and polio following the United States’ suspension of health aid to Nigeria.
Debt Servicing: ₦14.3 trillion has been allocated to debt obligations.
Capital Expenditure: ₦23.9 trillion will fund key infrastructure projects.
Recurrent Expenditure: ₦13.1 trillion is earmarked for running government operations.
Statutory Transfers: ₦3.6 trillion will be allocated to various government agencies.
To accommodate the increased budget size, the Joint Committee on Appropriations stated that additional revenue will be sourced from, Government-Owned Enterprises (GOEs) with a projection of ₦41.8 trillion.
The Federal Inland Revenue Service (FIRS) with a projection of ₦1.5 trillion and the Nigeria Customs Service (NCS) with a projection of ₦1.2 trillion.
The following funds were allocated to priority areas which include: Solid Minerals Sector: ₦1 trillion, Recapitalization of Bank of Agriculture (BOA): ₦1.5 trillion, Recapitalization of Bank of Industry (BOI): ₦500 billion, Critical Infrastructure (RHID Fund): ₦1.5 trillionand Irrigation Development: ₦380 billion.
Others are: Road & Rail Infrastructure ₦700 billion, Border Community Development: ₦500 billion and Military Barracks & Aviation to get₦370 billion.
Recall, the budget, originally ₦49.7 trillion, was presented to the National Assembly by President Bola Ahmed Tinubu on December 18, 2024, under the theme: “Budget of Restoration: Securing Peace and Building Prosperity.”
