Senate Passes N49.7 Trillion 2025 Budget For Second Reading

The Senate has approved the second reading of the 2025 Appropriation Bill, valued at N49.7 trillion, following its presentation by President Bola Ahmed Tinubu at a joint session of the National Assembly.

The bill, titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity,” was debated during Thursday’s plenary session, where lawmakers examined its objectives and general principles. 

READ ALSO: Security, Infrastructure, Education Take Top Three Positions in Tinubu’s ₦47.9tn 2025 ‘Restoration Budget’ Proposal

The budget allocates funds for statutory transfers, debt servicing, recurrent expenditures, and capital development.

Senate Leader Opeyemi Bamidele sponsored the bill, officially titled: “A Bill for an Act to authorize the issue from the Consolidated Revenue Fund of the Federation the total sum of N49,740,165,355,396 for the year ending December 31, 2025.”

More to follow…