‘Reduced by 524bn!’ House of Reps Revises 2025 Budget to Correct ‘Inadvertent Errors’

OwelekeTV (News) — The House of Representatives has rescinded its decision on certain components of the 2025 budget passed last week, making amendments to rectify errors in the Appropriation Bill.

During Tuesday’s plenary, lawmakers approved the revisions after a motion was moved by Francis Waive, Chairman of the House Committee on Rules and Business.

“At the point of cleaning and re-alignments, the joint committee on appropriations discovered some inadvertent errors in items passed by the House of Representatives and the Senate,”

Waive stated.

Following this discovery, the House amended and re-passed the budget for a third reading, with the Senate also approving the changes.

A breakdown of the adjustments shows that capital expenditure was reduced by N524 billion, while recurrent expenditure was increased by the same amount.

Last Thursday, the National Assembly approved a N54.9 trillion budget for the 2025 fiscal year, allocating:

N3.65 trillion for statutory transfers

N14.32 trillion for debt service

N13.06 trillion for recurrent (non-debt) expenditure

N23.96 trillion for capital expenditure

With the latest revision, capital expenditure now stands at N23.44 trillion, while recurrent expenditure has risen to N13.59 trillion.

However, the total budget size remains N54.99 trillion.