The National Assembly has reviewed the 2025 budget, reducing capital expenditure by over N500bn while increasing recurrent expenditure by the same amount. The budget size remains unchanged at N54.99tn
According to the Chairman of the House Committee on Rules and Business, Francis Waive, the review was necessary due to errors in the initially passed budget. The corrections were made to the figures earlier passed for some ministries, departments, and agencies.
Key Changes:
– Capital Expenditure: Reduced by over N500bn from N23.44tn
– Recurrent Expenditure: Increased by N500bn to N13.56tn
– Budget Size: Remains unchanged at N54.99tn
Some ministries and agencies saw their budget estimates reduced, including:
-Ministries of Defence and Police Affairs
– National Pension Commission
– Universities Pensions
Conversely, others received increased budget proposals:
Presidency
– Federal Ministry of Information and National Orientation.
– Office of the National Security Adviser.
– Federal Ministries of Agriculture and Food Security, Works, Labour and Employment, Transportation, Innovation, Science and Technology, Education, Environment, Health and Social Welfare