The N49.7 trillion 2025 Appropriation Bill presented to the joint session of National Assembly Wednesday by President Bola Tinubu has passed second reading in the Senate.
By Haruna Salami
The N49.7 trillion 2025 Appropriation Bill presented to the joint session of National Assembly Wednesday by President Bola Tinubu has passed second reading in the Senate.
Titled “A Bill for an Act to authorize the issue from the Consolidated Revenue Fund of the Federation the total sum of -N-49,740,165,355,396 (Forty-Nine Trillion, Seven Hundred and Forty Billion, One Hundred and Sixty-Five Million, Three Hundred and Fifty-Five Thousand, Three Hundred and Ninety-Six Naira) only, of which N=4,435,761,358,925 (Four Trillion, Four Hundred and Thirty-Five Billion, Seven Hundred and Sixty-One Million, Three Hundred and Fifty-Eight Thousand, Nine Hundred and Twenty-Five Naira) only is for Statutory Transfers, N-16,327,142,689,549 (Sixteen Trillion, Three Hundred and Twenty-Seven Billion, One Hundred and Forty-Two Million, Six Hundred and Eighty-Nine Thousand, Five Hundred and Forty-Nine Naira) only is for Debt Service, N=14,123,544,196,406 (Fourteen Trillion, One Hundred and Twenty-Three Billion, Five Hundred and Forty-Four Million, One Hundred and Ninety-Six Thousand, Four Hundred and Six Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N-14,853,717,110,517 (Fourteen Trillion, Eight Hundred and Fifty-Three Billion, Seven Hundred and Seventeen Million, One Hundred and Ten Thousand, Five Hundred and Seventeen Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on the 31st day of December, 2025, and for related matters, 2024 (SB. 681)” passed second reading.
The motion was moved by the Senate Leader, Senator Opeyemi Bamidele, (Ekiti Central).
The Deputy President of the Senate, Senator Barau I Jibrin, in his contribution to the debate on the Second Reading of the 2025 Budget Estimate on Thursday commended President Bola Tinubu, as according to him “his political will to bring prosperity to this country.
He said that it is christened Budget of Restoration: Securing Peace, Rebuilding Prosperity”, adding that “peace is sine qua non for a sound economy, for a sound and up-and-doing society”.
He said “what we need to do after the passage is all come around to make sure that we do all that is humanly possible to ensure that it’s fully implemented. I’m sure by the time we implement this budget, this country will turn into a land of El Dorado, a land of plenty and prosperity”.
Akpabio, in his final remarks thanked his colleagues for their contributions to the general principles of the 2025 budgetary estimates.
He wished them a Merry Christmas and a very Happy New Year in advance, particularly for our Christian brethren.
“And I also want to say that God Almighty and Almighty Allah will definitely bless your New Year. No tragedy will touch your families. You will go and come back in good health. And Almighty Allah, may God be with you and with your families. May you come back to continue the service to your fatherland”.
He charged those who are in charge of ad-hoc committees that they must do their work, adding “as soon as we come back, please get your reports ready.
“Then those who are in charge of conference committees, to ensure that we marry the petitions of both chambers together, get your reports ready. So that once we come back in January, we can get cracking.
“If there is need to call you back, in line with legislative practice, while you are on holiday, we will do so. So don’t forget that you are like what they call it in the army, I think reservists. You are on reserve. You can be called back any time if there is need, so that we can convene in the national interest.
The Senate wishes our colleagues, the Speaker and leadership in the House of Representatives, a very wonderful Christmas and a happy New Year.
“We also wish Mr. President a very wonderful Christmas and a happy New Year. We wish all our families good health, joy of the season that surpasses all understanding.
On that note, I thank you personally for your continued support. I thank you for your prayers, the Deputy Senate President and all of us”.
Therefore, he adjourned the Senate to the 14th day of January, 2025.
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