The House of Representatives has rescinded its decision on some of the components in the 2025 budget passed last week.
During plenary on Tuesday, the house amended the budget to “correct inadvertent errors” in the Appropriation Bill.
The decision followed a motion moved by Francis Waive, chairman of the house committee on rules and business.
“At the point of cleaning and re-alignments, the joint committee on appropriations discovered
some inadvertent errors in items passed by the house of representatives and senate,” Waive said.
The house subsequently amended the budget and passed it for a third reading.
The senate also did the same for the Appropriation Bill.
A breakdown reveals that capital expenditure was reduced by N524 billion, while recurrent expenditure increased by the same amount.
Last Thursday, the national assembly passed the sum of N54.9 trillion as the budget for the 2025 fiscal year.
Out of the figure passed, N3.65 trillion was for statutory transfer, debt service was N14.32 trillion, N13.06 trillion was earmarked for recurrent (non-debt) expenditure, and contribution to the development fund for capital expenditure was N23.96 trillion.
With the amendment, capital expenditure now stands at N23.44 trillion, while recurrent expenditure has increased to N13.59 trillion.
However, the budget size remains at N54,990,165,355,396.
