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The House of Representatives has passed the report of its Committee on Appropriations approving ₦43.56 trillion 2024 and 48 trillion federal budget for the 2025 fiscal year, following the repeal and re-enactment of the 2024 and 2025 Appropriation Act.
The approved 2025 budget provides ₦1.74 trillion for statutory transfers #8.27 trillion for debt servicing, ₦11.27 trillion for recurrent (non-debt) expenditure, and ₦22.28 trillion for capital expenditure, covering the fiscal year ending December 31, 2025.
The House subsequently moved into the Committee of Supply, where the budget was considered clause-by-clause, granting the Accountant-General of the Federation authority to release funds from the Consolidated Revenue Fund, subject to National Assembly oversight, virement approval, and quarterly reporting requirements.
The House also advanced legislative business with the third reading of a bill to amend the Electoral Act, 2022, aimed at regulating federal, state, and area council elections in the Federal Capital Territory.
Both appropriation bills retain strict provisions on due process, excess revenue management, fund releases, and legislative approval for virements, reinforcing parliamentary control over public spending.
Plenary was thereafter adjourned to January 27.
