IBY
Peterside Rejoice Eneky
The Senate has passed the 2025 budget, totaling N54.9 trillion, with key allocations covering statutory transfers, debt servicing, recurrent expenses, and capital projects.
According to the breakdown, N3.6 trillion is allocated for statutory transfers, N14.3 trillion for debt servicing, N13.5 trillion for recurrent expenditure, and N23.9 trillion for capital expenditure.
Presenting the final budget during plenary, Chairman of the Appropriation Committee, Senator Olamilekan Solomon Adeola, expressed concerns over the late submission of the proposal to the National Assembly.
He urged President Bola Tinubu to ensure timely presentation of future budgets, recommending that subsequent proposals be submitted at least three months before the year’s end. This, he emphasized, would help sustain the January-to-December budget cycle.
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