The National Assembly has reversed its decisions on the 2025 budget bill passed last week to correct errors in the allocation of funds for capital and recurrent expenditures.
The budget bill, initially passed by both the Senate and the House of Representatives on Thursday, February 13, was amended to address discrepancies in certain line items.
While the overall size of the budget remains at 54.9 trillion naira, changes were made to the distribution of funds between capital and recurrent expenditures.
The revised budget now reflects a reduction of over 500 billion naira in capital expenditure, which has been adjusted to 23.439 trillion naira.
Meanwhile, the recurrent expenditure has been increased by the same amount, now standing at 13.588 trillion naira.
The changes by the National Assembly to the budget have sparked mixed reactions. Some critics have expressed concern that the increase in recurrent expenditure could lead to higher inflation. In contrast, others have raised questions about the balance between funding for development projects and government operations.
Despite these concerns, lawmakers have defended the adjustments, stating that the revisions were necessary to align the budget with current economic realities.
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cc: Daily Post Ng
