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The National Assembly passed the Appropriations Act of 2025, which approved a record budget of 54.99 trillion.
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The budget allocates $23.96 trillion in capital expenditures, aiming at infrastructure development, health care, education and security.
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However, the $14.32 trillion designation for debt has raised concerns about rising debt burdens and long-term financial sustainability in Nigeria.
The Nigerian Senate, together with the House of Representatives, passed the 2025 Approvals Bill, which approved a record budget for providing finance for government activities in the coming fiscal years of 54,990,165,355,396.
The budget is titled as a bill that authorized the issue of the federal consolidated income fund, approved after considering its allocation and its impact on economic growth, debt management and infrastructure development.
National Assembly President Godswill Akpabio is also the Senate Chairman, and the 2025 budget breakdown includes statutory transfers: ₦36.5 trillion USD, debt services: ₦14.32 trillion, regular (non-debt) spending :₦13.06:₦13.06. Trillion and Capital Expenditure: ₦23.96 trillion.
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The largest portion of the budget is 23.96 trillion, allocated to capital expenditures, aimed at infrastructure development, health care, education and security.
“This shows the government’s commitment to addressing Nigeria’s infrastructure deficit,” Akpabio said.
However, the $14.32 trillion designation for debt has raised concerns about rising debt burdens and long-term financial sustainability in Nigeria.
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