House of Representatives pass Tinubu’s reviewed 2024, 2025 budgets

The House of Representatives has passed the 2024 and 2025 budgets as recently reviewed by President Bola Ahmed Tinubu through bills he earlier transmitted seeking repeal and reenactment of the two appprooriations.

The revised 2024 budget stands at ₦43.56tn 2024 aggregate expenditure with a breakdown as ₦1.74 trillion earmarked for statutory transfers, ₦8.27tn for debt servicing, ₦11.26 trillion for recurrent (non-debt) expenditure, and ₦22.27 trillion allocated for capital expenditure and development fund contributions for the fiscal year ending December 31, 2025.

Also, the revised ₦48.31 trillion 2025 budget has ₦3.64 trillion for statutory transfers, ₦14.31 trillion for debt service, ₦13.58 trillion for recurrent (non-debt) expenditure, and ₦16.76 trillion for capital expenditure through development fund contributions.

Both Appropriations Act has been extended to run until March 31, 2026 by the House at its plenary on Tuesday. 

In his communication transmitting the reviesed budgets, Tinubu explained that the revisions were necessary in order to accommodate budgetary items which were not previously captured, while also adjusting capital implementation targets in line with prevailing fiscal realities.

According to him, the new framework framework reflects a more realistic capital implementation benchmark of 30 percent, given the country’s execution capacity and revenue constraints.

Ardo  Zubairu 
National Secretary 
TInubu Re- Election Project 2027 . Office Phones: 
08033305195
08098885195
07033454053

Follow this link to join  https://chat.whatsapp.com/GGyI5S8pxi78dcZ3fKciGB

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