The House of Representatives has passed the 54.99 trillion naira, 2025 appropriation bill.
A breakdown of the budget shows 3.6 trillion naira for statutory transfers, 14.38 trillion naira for debt servicing , 13.64 trillion for recurrent expenditure and 23.97 trillion naira for capital expenditure (development fund).
While presenting the bill for consideration, the Chairman of the House Committee on Appropriations, Abubakar Bichi, stated that the committee met with the Presidential Economic Planning team to further discuss revenue projections and expenditure for the 2025 Appropriation Bill.
President Bola Tinubu had last week increased the 2025 fiscal year budget from an initial 49.7trillion naira to 54.2trillion naira, seeking approval from the Senate and the House of Representatives.
The new Alaafin of Oyo, Oba Abimbola Owoade, has set up a 97-member local organising coronation committee to oversee activities for the ceremony fixed for April 5, 2025. A statement by the Chief of Staff to the monarch, Rotimi Osuntola, said the committee was inaugurated to ensure a grand and seamless ceremony that will celebrate the rich cultural heritage of the Yoruba people. The committee which is chaired by former […]
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