Senate President Godswill Akpabio (L) with Speaker of the House of Representatives, Tajudeen Abbas (R) during the presentation of the 2025 Budget proposal by President Bola Tinubu on Wednesday, December 18, 2024 in Abuja The National Assembly on Thursday passed the ₦54.99trn 2025 Appropriation Bill. The bill was passed separately by the Senate and the House of Representatives. A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn. The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%. Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trn to N54.2trn, seeking approval from the Senate and the House of Representatives. The Chairman of the House
Tag Archives: GovernmentSpending
The UK government anticipates spending at least £4.7bn on post-Brexit border controls, according to a report by the National Audit Office (NAO). These controls, which have faced repeated delays, have been criticized by the public spending watchdog. The introduction of border checks on goods from the EU in April was marked by “significant issues,” including […]