House Passes Revised 2024, 2025 Budgets at N43.56trn, N48.31trn, Adjourns for Recess

By Angel Ike

The House of Representatives has repealed and re-enacted the 2025 Appropriation Act, passing the revised bill at third reading.

This authorizes withdrawal of N48.31 trillion from the Consolidated Revenue Fund for the period ending 31 March 2026.

Lawmakers also repealed and re-enacted the 2024 Appropriation Act, approving a revised expenditure of N43.56 trillion.

Two letters from President Bola Tinubu, dated 18 December, kept the House busy over the weekend and into Tuesday’s plenary.

Presenting the House Committee on Appropriation’s report, Chairman Kabir Abubakar said the committee recommended repealing the original N54.99 trillion 2025 budget and re-enacting it at N48.31 trillion, as requested by the President.

Allocations include N3.64 trillion for statutory transfers, N14.31 trillion for debt servicing, N13.58 trillion for recurrent non-debt expenditure, and an upward adjustment of about N60 billion for capital expenditure.

The House also repealed and re-enacted the 2024 budget.

At the Committee of the Whole, lawmakers swiftly considered and passed both appropriation bills before adopting them at third reading as speaker Tajudeen Abbas presided over the session.

Earlier, during the 2026 budget presentation, President Tinubu urged the National Assembly to repeal and re-enact the 2024 and 2025 Appropriation Acts to avoid running multiple budgets concurrently.

The House then adjourned plenary for the Christmas and New Year recess, with activities resuming on 27 January 2026.