The National Assembly amended the 2025 Budget on Tuesday, moving ₦500 billion from capital expenditure to recurrent expenditure. The total budget remains ₦54.99 trillion.
The shift corrects errors found during the budget process. Statutory transfers remain at ₦3.64 trillion, and debt service stays at ₦14.31 trillion.
Recurrent (non-debt) spending increased from ₦13.06 trillion to ₦13.58 trillion. Capital expenditure decreased from ₦23.96 trillion to ₦23.43 trillion.
The Ministries of Defence, Police Affairs, and the National Pension Commission (PENCOM) saw changes in their allocations. The Presidency, Federal Ministry of Agriculture and Food Security, and Federal Ministry of Education experienced budget cuts.
Senator Jubrin Barau stated that addressing errors now prevents amendments after the President signs the bill. This action ensures transparency. The 2025 Budget now reflects adjusted spending priorities while remaining within the approved fiscal framework. The changes demonstrate a commitment from the National Assembly, and the finalized 2025 Budget is ready.
[…] the challenges is Restructuring,” Ajayi stated. Afenifere called on President Bola Tinubu and the National Assembly. The group urged them to quickly start the restructuring process to secure Nigeria’s […]